China's Haier Speeds Indian TV Market Expansion as Top Exec Inspects Local Production Lines and Retail Market

(Yicai) Jan. 23 -- Haier Group is accelerating its expansion in the television market in India, with the general manager of Haier Multimedia, which oversees the Chinese home appliance giant's TV business, conducting on-site inspections of local production lines and retail market.Liu Junguang examined Haier's TV production lines in India and visited ley Indian cities including Bangalore, the country's software and IT hub, and Mumbai, during a recent research trip, he said on social media, noting that the firm attaches great importance to the market and will enhance the automation and visual inspection capabilities at local factories to improve product quality.Qingdao-based Haier has plants in the Ranjangaon Industrial Area of Pune and the Greater Noida region of Uttar Pradesh, both producing TVs along with other home appliances.Leveraging its extensive home appliance sales network and after-sales service system, Haier seeks to consolidate its market share in China while rapidly expanding into overseas markets such as India to drive the countercyclical growth of its global TV business, Zhang Hong, deputy GM of the large-size display division at high-tech industry research firm Sigmaintell Consulting, told Yicai.Global TV shipments are expected to have dropped 0.7 percent to 221 million units last year from 2024, but those in India likely rose 3.5 percent to over 18.6 million units in the period, Zhang noted, adding that the growth is projected to continue this year.Behind India's TV market growth lies its large population, Zhang said. As people's purchasing power continues to increase, demand driven by young people getting married provides significant support to the local market, Zhang added.In addition, the Indian government's domestic demand-stimulating policies, such as the goods and services tax reform implemented last year, have boosted local TV demand. For example, after the new policy took effect, the GST rate for medium and large-sized TVs, or those 32 inches and above, was reduced to 18 percent from 28 percent, driving a shift to 43-inch to 55-inch models from 32-inch ones as the mainstream products, giving manufacturers the chance to optimize their product mix.India has emerged as the world's third-largest TV market, while still having substantial growth potential, a staffer from the China Chamber of Commerce for Import and Export of Machinery and Electronic Products said to Yicai. TCL China Star Optoelectronics Technology, a leading Chinese maker of liquid crystal displays, has a factory in India that creates a favorable supply chain ecosystem for Haier's local TV production bases that gives it an edge in further expansion in India, the person added.Editors: Tang Shihua, Martin Kadiev