South Korean consumer goods maker Samsung on Thursday unveiled The Wall, its large format modular MicroLED display, in India, making it the most expensive product launch by the company. The company refrains from calling it a “television".
Priced between ₹3. 5 and Rs12 crore, The Wall is targeted towards India’s ultra wealthy individuals and large corporates. The Wall was first displayed by the consumer goods maker at the 2019 CES and has now been launched in India.
The product is currently on display at Samsung’s experience centre in Gurugram. It is available in three variants ranging Rs3.5 crore to Rs12 crore (exclusive of taxes). The modular MicroLED display comes in a variety of sizes and ratios from 146 inch (370.8 cm) in 4K definition, 219 inch (556.3 cm) in 6K definition to 292 inch (741.7 cm) in 8K definition. The product that is currently being imported from Vietnam and will be available in India from December 5, 2019, the company said in its release.
In its first year of sale here, Samsung plans to sell 25-30 units in 2020 taking the number up to 100 in 2021, and touching 200 units by end of 2022. “We expect this to give us a revenue of $70 million by 2022," Puneet Sethi, vice president, consumer electronics business, Samsung Indi told Mint. The Wall is likely to help Samsung draw a 10-15% growth in its display business going forward.
In its preliminary research, Sethi said it is seeing interest in the product emerge beyond the metros. “For the luxury version we are looking at the UHNI consumer base from India; demand is coming from the top metros and cities like Pune, Surat, Hyderabad, Chandigarh, Ludhiana etc where there is a cluster of UHNIS. We have been trying to do research and getting feelers from the market and we are seeing people showing interest from these cities too," he said.
Samsung will set up more experience centres in other cities to display the product going forward. “We will have a placement of the product so that it covers the target market," Sethi added. The product will not be retailed online in India as of now.
Samsung’s pricey launch comes at a time when consumer demand and sentiment has remained muted in Asia’s third-largest economy. However, Sethi said the company has received sufficient queries in its pre-launch phase and set sales targets accordingly.