hiddenSep 02, 2016 09:21:01 IST
After years of remaining stagnant, the TV industry in India is now in an interesting curve. The market is still dominated by traditional giants like Samsung, LG and Sony but players with a brand new business models are taking away their market shares in an increasing speed.
The new breed of companies will eventually take over and here are the five reasons why the most representative new company, international brand LeEco will beat one of the strongest traditional giant Samsung.
Display and hardware:
In the 55 to 65-inch TV category, both LeEco and Samsung offer internet-enabled TVs that offer 4K display and a quad-core processor. However, LeEco Super TVs have an edge over Samsung as they come with A+ grade IPS panel and equipped with as many as 14 core display technologies. The screens offer a 178-degree wide viewing angle and a wide colour gamut of up to 85 percent NTSC. Also, the 55-inch LeEco has 2GB RAM and 8GB ROM while Samsung has 1.5GB RAM and 8GB ROM.
Samsung offers only a year of warranty while LeEco doubles the industry standard by providing Super3 Series a 2-year product warranty. In addition to this, the company is offering a full 4 years of warranty on the display panel.
This is the first time in India that any company is offering content-enabled TVs. LeEco Super TVs comes bundled with LeEco’s membership program for 2 years’ worth Rs 9,800. This membership offers over 2000 Full HD/HD films from Hollywood and Bollywood, more than 100 satellite TV channels, and more than 50 live concerts.
Disruptive and innovative marketing:
This is the first time any TV player has opted for a flash sale model. It is especially appealing for trendy urban consumers. With a hectic life style, they prefer to buy their consumer electronics online. Though LeEco is venturing into offline sale platform, it has frontloaded its entry with popular flash sale model. And it paid. Super TVs sold out within the first three minutes of the flash sale on August 26th.
India being a price sensitive market, any disruptive pricing is bound to dictate the tone and tenor of the competition. While LeEco Super3 X55 comes at a price of Rs 59,790, Samsung’s UA55JU6470U model of 55’’ costs Rs 1,78,900. Similarly, the Super3 X65 comes at a price of Rs 99,790, while Samsung’s 65’’ model (UA65JU6470U) costs Rs 3,14,900. Even the 3D model of LeEco’s 65’’ Super TV (Super 3 Max65) costs Rs 1,49,790, just about half the cost of Samsung’s 65’’ model. LeEco is bold enough to provide disruptive prices for its hardware products while gaining profit from other internet services like online streaming. But companies like Samsung are still adopting the most traditional pricing model.
Even the upcoming second flash sale of Super TVs on September 6th is bound to score yet another milestone in terms of number of TV units sold in India per day. LeEco has provided a lot of aggressive offerings that no traditional vendors dare to try.
These includes Rs 2,000 cash back or 12 months of no-interest EMI on their purchase through ICICI debit and credit cards on LeEco’s own LeMall.com. That means buyers can own a Super TV by paying just Rs 4,999 per month for 12 months. Buyers opting to buy from Flipkart can either get the offer of Rs 5,000 cash back or 12 months of no-interest EMI on their purchase through Citibank debit and credit cards.
LeEco has pioneered in this flash sale tactic that many traditional companies failed to provide. Registration for the second flash sale started on August 27th and will end at 11 AM September 6th. The flash sale will start at 12:00 PM on September 6th. They will get time until 4 PM to settle the final payment. This carefully timed steps boost sales enormously.
LeEco has been organising creative campaigns like roadshows. The next roadshows will be held on September 3rd and 4th between 11 AM and 9 PM and will be organised at prominent shopping malls in Delhi, Mumbai, and Bangalore.
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