Locally-made TV sets dominating domestic market: Survey

Locally-made products are dominating country's television-market, holding 52   per cent of its total share whereas, just a decade ago, the country was almost fully dependent on import. The industry is rapidly growing over the past two decades  
Of the 52 per cent, Walton holds 25-27 per cent shares while Singer 9 percent, Minister 4 percent, Vision 3percent, Jamuna and Nova 2 percent each. Other local manufacturers occupy the remaining of the market.  
Marketing Watch Bangladesh (MWB), a Dhaka University based non-profit research organisation conducted the survey and the findings were unveiled at a press briefing on Wednesday in the city.
The research was carried out by chairman of marketing department of the varsity and co-founders of MWB Prof Mizanur Rahman and another Associate Prof Md Nazmul Hossain. The study said the size of Bangladesh television market in 2020 had reached $636 million and is expected to grow to $687 million in 2021.
The study further said home-made products will be able to occupy 70-80 per cent of total market share very soon, if the grey market can be brought under control by taking proper action and formulating rules and regulations.  The grey market products market share is estimated 20 per cent that includes  counterfeit Chinese products and brands coming through unauthorized channels by false declaration. It is making active players in the industry very much uncomfortable and a bit scared.
The study said local brands are now getting popularity in domestic as a result of increased investment of some home-grown companies, especially the giant Walton electronic manufacturer.
Walton TV is the market leader now holding more than 25-26 percent market shares which is however highly fragmented, competitive, and saturated as a wide range of global brands have penetrated the market and made it intensely competitive along with counterfeit Chinese brands.
Among all the international and local players, Samsung is highly likely to emerge as a potential competitor in the upcoming years because of its special focus on R and D and competitive advantage of TV production in the domestic plant.
Among the local brands, the Vision is likely to do well in the coming days due to its strong distribution networks, although its current market share is not up to the mark, said Prof Mizanur Rahman.
"Once used to prefer foreign brands but the situation has changed as local television companies have been getting popular for the last 20 years for reasons such as lower prices," he added.
The research was based on direct interviews of 2439 television users from eight divisions and 2273 people's reaction from the websites of five Television companies.