The Indian TV market seems to be having a Jio moment. Chinese brand LeEco may be about to trigger a price war in the large-screen, flat-panel television market by selling a 4K set at Rs 60,000, about a third cheaper than some comparable models.
Mainstream brands such as Videocon and BPL are working on plans to counter the move, which is akin to what Chinese phone brands like Xiaomi, OnePlus and LeEco itself did to capture market share—selling high-spec devices at a lower price to compete with Samsung and Apple. Sony, Samsung, LG and Panasonic, which control three-fourths of the Indian flat-panel market, will continue their existing pricing strategy while assessing the scenario, executives said. LeEco flagged flash sales of the 55-inch set starting at noon Tuesday and, going by past experience, it’s likely to be a sellout.