Hisense Group, a leading China’s TV manufacturer has proposed a plan to acquire around 26% stake in Epack Durable, a leading Indian contact manufacturer on 24 December 2024. Hisense Group make this strategic move to enlarge its position in the Indian market. It will also lead to enhance Epack durable capacities in the field of contract manufacturing.
This acquisition is done in subject to all the regulatory approvals, and marks as a huge investment in Indian manufacturing sector. The global leader in TV and home appliances industry will use this acquisition as a strategic move to expand its footprints in India, this is considered as a fastest growing market for consumer electronics.
Epack durable is the subsidiary of E-pack Group is a giant of electronics and appliances across India. The company is well-known among client to deliver high-quality products. This also includes some of the leading brands in the consumer electronics industry.
Hisense Group and Epack durable partnership is expected to be profitable agreement for both the parties. Both the parties will get benefits from each other such as Hisense Group will take access from Epack manufacturing expertise and capacity. On the other hand, Epack will take benefits from the Hisense Group reach and technologies expertise. In the upcoming month this agreement will take regulatory approval.
CMI Research: Key Smart TV Market Insights
As per the Coherent Market Insights recent report, the global smart TV market is set to soar at a CAGR of 11% from 2024 to 2031. Revenue generated from the smart TV is expected to increase from US$ 421.03 billion in 2024 to US$ 876.42 Billion by 2031. The growth is being driven by the innovative features provided by smart TV such as internet connectivity and voice assistants.
Changing consumer preferences and evolving entertainment needs will drive smart TV market industry. Modern consumer are shifting from traditional television to modern television to experience immersive and engaging experience. People want every form of media in a single screen and these smart TV as emerged as an ideal platform for all these needs.
People are consuming different types of modern content such as movies, web series, photos, news, and games across multiple devices. It will become inconvenient to and interrupted to juggle among different platform. Smart TV is considered as a best option to get rid from all this hassle by providing all things in a single package.
Analyst Opinion: Strategic Role in Smart TV Growth
“Changing consumer preferences and low price of smart TV will lead to drive growth in the global market,” says consumer electronics analyst Pooja Tayade. Analyst also added that the advanced features provided by the smart TV brand will also aid in increasing the sales.
High speed internet connectivity across the region will also lead to drive growth by 2031. Growing internet penetration will provide seamless experience to the viewer beyond the traditional forecast. Additionally, high bandwidth of fiber and 5G network in both urban and rural areas will also contribute to growth.
Conclusion: Business Takeaways and Pivotal Role
The acquisition of 26% stake of Hisense Group in Epack durable marks a strategic move to lead the smart TV industry. As the demand for smart TV will grow globally, this will also aid in propelling Hisense Group position in the Indian market. As the industry continues to evolve, both the companies will see growth. This acquisition will lead to drive innovation, growth, and competitiveness in the smart TV industry. This will lead to paving the future where smart TV is an important need.
