Veira Group Sets Up New 400,000 Square-foot Facility In A Bid To Increase LED TV Production

Veira Group, a consumer electronics manufacturer, has introduced a new 400,000 square-foot LED TV production facility in Noida, increasing its annual production capacity by 70 per cent to meet rising demand in domestic and international markets. Located in Noida’s Sector 81, the facility allows Veira to manufacture up to 3 million TVs annually, including displays as large as 98 inches. Equipped with automated optical inspection (AOI) capabilities and integrated with Industry 4.0 standards, the new facility offers vacuum-controlled clean rooms and robotic production lines to enhance production efficiency.

The expansion places Veira among the few Indian manufacturers offering Samsung’s Tizen OS on non-Samsung TVs. Other operating systems available in its TV lineup include Coolita, Google and webOS, providing a variety of options for consumers. According to Sharan Maini, a spokesperson for Veira, the facility aligns with the company's goals under India’s 'Make in India' and 'Atmanirbhar Bharat' initiatives, focusing on local manufacturing and skill development in electronics production.

Indian Smart TV Market

India's smart TV manufacturing industry has been expanding rapidly, with the market valued at USD 11.53 billion in 2023 and projected to reach USD 32.57 billion by 2030, growing at a CAGR of 16.57 per cent. This growth is attributed to rising disposable incomes, the spread of internet access and increased use of over-the-top (OTT) streaming services. In 2023, India’s TV ownership rate reached 69 per cent, driven by affordable smart TV models, particularly those under USD 200, which have widened accessibility in both urban and rural areas.

The sector includes major companies such as Xiaomi, Samsung, LG and Sony. Xiaomi holds approximately 14 per cent of the market share, primarily through budget models like the Redmi series, followed by Samsung at 13 per cent, which offers a range of QLED and budget TVs. LG and Sony account for around 10 per cent and 5 per cent of the market, respectively, with LG focusing on OLED and Nano cell models and Sony on its BRAVIA series.

Other competitors include TCL, with 8 per cent of the market, OnePlus, with 7 per cnet and Vu Technologies, a budget-friendly brand. TCL and OnePlus have targeted affordability and feature-focused models, while Vu has concentrated on low-cost options.

Manufacturing And Supply Chain

In line with the 'Make in India' policy, multiple brands have developed local manufacturing capabilities. Xiaomi, for example, manufactures through a partnership with Dixon Technologies in Andhra Pradesh. Samsung, Sony and LG have also set up facilities in India, which has contributed to reduced dependency on imports, shorter supply chains and improved cost management. These shifts have also led to expanded job opportunities and training programs in manufacturing.

The Indian smart TV market is expected to keep growing as larger screen sizes and advanced display technologies gain popularity. Features such as 4K and 8K resolutions and improved affordability are anticipated to sustain the market’s expansion.

Veira’s latest facility development is the company’s step forward to increase production and expand its product range. With plans to diversify into other appliance segments such as washing machines and air coolers, Veira expects these additions to account for a portion of revenue by FY25.