Samsung is optimistic about the TV business in 2024, citing increased demand for premium TVs from MZ consumers….reports Asian Lite News
Samsung on Wednesday said that it is targeting Rs 10,000 crore revenue from its Artificial Intelligence (AI)-powered Neo QLED, OLED TV business in India.
Samsung ended 2023 with a 21 per cent volume market share and this year it is looking to further consolidate its leadership with the launch of AI TVs, the company said.
“For the first time, we have a very clear twin strategy on premium, the highest or the largest range as far as the consumer is concerned and with that, we are also looking at targeting unprecedented Rs 10,000 crore revenue in 2024,” said Mohandeep Singh, Senior VP, Visual Display Business, Samsung India.
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The television market in India has been slow, with Counterpoint Research reporting a 16 per cent drop in shipments last year.
However, Samsung is optimistic about the TV business in 2024, citing increased demand for premium TVs from MZ consumers.
As per analysts, no TV brand in the country has achieved the Rs 10,000 crore revenue milestone before.
Samsung has launched its ultra-premium Neo QLED 8K, Neo QLED 4K and OLED TVs in the country to consolidate its leadership in the TV business.
According to the company, its new range of premium TVs is designed to boost consumers’ home entertainment experience with powerful, AI-driven solutions.
Meanwhile, Samsung on Wednesday said that it has developed the industry’s first low-power double data rate 5X (LPDDR5X) DRAM (Dynamic Random Access Memory) chip, a memory solution tailored for artificial intelligence (AI) applications.
The new chip supports the industry’s highest performance of up to 10.7 gigabits-per-second (Gbps), improving performance by over 25 per cent and capacity by more than 30 per cent compared with the previous generation, according to the company.
Low-power, high-performance LPDDR chips are playing a growing role in the rapidly expanding market for on-device AI, where AI runs on the device itself, reports Yonhap News Agency.
As per Samsung, its latest LPDDR5X products were leveraged with 12 nanometer-class process technology to achieve the smallest chip size among existing LPDDR chips, helping the company solidify its technological leadership in the low-power DRAM market.
“Samsung will continue to innovate and deliver optimised products for the upcoming on-device AI era through close collaboration with customers,” the company said.
Mass production of the LPDDR5X is scheduled to begin by the second half of the year, following verification by providers of mobile application processors and mobile devices, the company mentioned.
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