Lumio Enters India’s Home Entertainment Market with 4K Smart TVs
In a significant development, Lumio is a home-grown consumer technology startup. It has announced its foray into India’s home entertainment space. The announcement includes a range of 4K smart TVs. Founded by former Xiaomi and Flipkart officials, Lumio aims to revolutionize the customer’s viewing experience with its innovative products.
Strategic Partnerships
Lumio has collaborated with Google, Dixon Technologies, and Amazon India to develop and distribute its smart TVs. The company’s first TVs are manufactured by Dixon Technologies. They will be powered by Google’s OS. This offers consumers access to over 400,000 movies and shows across 10,000+ apps.
Unique Features
Lumio’s smart TVs will address customers’ pain points and offer a “completely fresh take” on existing products in the segment. The company has onboarded professionals from top companies, including Flipkart, Lenovo, Philips, TiVo, LG, and Samsung, to develop innovative products.
Market Opportunity
Lumio is entering the Indian smart TV market. This comes at a time when brands are exiting the space due to slow growth. However, the demand for premium TVs, particularly 4K smart TVs, is growing. According to Counterpoint Research, shipments of 4K smart TVs increased by 17% year-on-year (YoY) in Q3 2024. They constituted nearly 52% of the total shipments.
Funding and Future Plans
Circuit House Technologies, the parent company of Lumio, raised $4.3 million in funding last year. Lumio plans to showcase its first TVs in March, with features that address customers’ pain points. The company aims to make a significant presence in the premium TV segment.
“We are crafting products from the ground up to rewire customer expectations. This eases those letdowns for a marvelous everyday viewing experience,” said Raghu Reddy, CEO of Circuit House Technologies.
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