OnePlus has launched its new range of TVs amidst much fanfare or at least much of it can happen in the virtual world of online launches. Prior to the launch, it was business as usual for the Chinese brand as it is before it unveils a new product. Numerous leaks, bits of information shared by the company executives among other things. The one thing almost everyone was betting on was that the brand will not have the same pricing strategy as its maiden TV launch in 2019.
OnePlus seems to have realised that it’s the price that matters the most and a vast majority of consumers in India look for the value proposition. Something that Xiaomi learnt very well and perhaps that’s why didn’t face the problem. And now Realme too is following it to the T.
The first OnePlus TV was launched at a starting price of Rs 69,999 and cost as much as Rs 99,999. Now, it might have had all the bells and whistles but then the company is still new in the premium segment which is ruled by behemoths like Sony, LG and Samsung since years.
Phillip Kotler might have coined the famed four Ps of marketing but in India only two Ps matter: Price and perception. The perception about Apple is that it is an expensive and premium brand and it can be argued that it almost lives up to the billing — both with the products and the prices. The perception about Xiaomi is that it is an affordable brand and just like Apple it also lives up to that to a great extent.
The perception about OnePlus — and one it has cultivated with great success — is that the brand makes reliable and almost high-end products at affordable prices. With the first OnePlus TV, it moved a bit away from that. OnePlus — like most other brands — loves to talk about its success story with numbers, reports which highlight that it is number one. None of that happened with the TV. It definitely created a buzz but didn’t set the market on fire.
Interestingly, there's also appears to be a strategic shift in smartphones as well with the upcoming OnePlus Nord. The new affordable phone is set to be launched this month and OnePlus has altered its strategy of being a flagship killer to some extent. The strongest selling point for OnePlus was that it offered something which others didn’t — premium product at not-so-premium prices. With the upcoming Nord, it is set to enter the 'affordable premium' segment. The category that became hot with Apple iPhone XR in 2018.
In the TV market, Xiaomi is a dominant force and Samsung remains a big threat. That may be the reason why the new pricing for the new TV. For most brands to succeed in the hyper-competitive Indian market, the price always has to be nice.