As more and more brands slash their prices to gain a buyer, we can foresee a price war ahead. The LG TV 32 inch price has been slashed steeply to keep up with the ongoing competition.
Today, the Indian Television market is highly competitive. A large number of local and international brands are engaged in tough competition to get the maximum share of the consumer market. Market shares of big brands are decreasing every year, and it’s becoming challenging for them to retain customers.
In the last few years, the market has witnessed major changes in the pricing policy of leading brands resulting in a subsequent price war. You are assured of a reasonable price deal on your next OLED TV purchase.
What Makes The Competition Inevitable?
Growing Smart TV Market – The modern TV sets offer some of the most amazing features, which were unthinkable even a few years back. In the past, TV sets did not support Smart features. Today, with a large number of Smart TVs being launched in the market, the customers are more inclined towards smart TV sets.
There are around 20 crore families in India and smart tv has reached only 10 % of the houses. There is a huge scope of expansion since a large portion of the consumers is still not using Smart TV sets.
New Brands – A couple of years back, only 3-4 brands ruled the market, but as soon as new players started entering the market, there was a tough fight. These brands have launched high end smart TV sets at competitive prices. To penetrate the market, they offered attractive deals and discounts.
The established brands did not follow the rat race as they were confident about the quality of their products. But the problem started when market shares of these brands started falling significantly. They were forced to cut down the prices of their Smart TV sets to stay alive in the competition.
Low Prices – Oneplus, Xiaomi, Motorola are some of the brands which have created an impact on the Indian market. Previously, Japanese and Korean brands have been dominant with their high quality products. The new brands are coming up with high configuration Smart TV sets at competitive prices.
Companies like Xiaomi and Oneplus already have loyal customer bases through their smartphone market. Hence, it became easier for them to take a share of the Smart TV market.
Fight among new entrants – The leading Smart TV manufacturers are engaged in an intra-brand competition. Each quarter, a new and lower-priced model with better features is launched in the market, which puts pressure on its competitors. They slash prices to adjust to the changing consumer sentiments.
Brands also offered subscriptions to premium streaming services like Netflix and Prime, but this list was exhaustive. Now the only way to stay alive in the competition is through a price slice. Indian television market is already witnessing a strong price war.
Top brands offering smart TVs – As discussed earlier, there are multiple TV brands available in the market offering high-Quality TVs in LCD or OLED TV variants. Sony, Samsung, LG, Xiaomi, and Oneplus dominate the market with a wide range of modern TV sets.
The LG 32-inch Smart TV launched in 2020 is very affordable and has excellent features. It is one of the most sought after models in the Indian Smart TV market.
A popular model of LG’s LM series, the 32LM563BPTC has the following features
- WebOS – WIFI, screen mirroring, office 365, Multitasking
- Dynamic Colour enhancer
- Active HDR
- Dolby Audio
If you want to buy a smart TV without paying the LG 32-inch price upfront, you can use Bajaj Finserv EMI Network Card. This card lets you divide the cost drive into convenient monthly installments, or avail the No Cost EMI on Zero Down Payment on selected products. Furthermore, The card comes with a pre-approved limit of up to 4 lakh rupees, and you can choose a repayment tenure that ranges between 3 to 24 months.