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Drumbeat: Ad Buzzaar
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Tuesday, June 30, 1998
Foreign CTV makers put price-hike plans on hold
NEW DELHI, June 29: Adverse market sentiment has forced the foreign colour television (CTV) manufacturers to keep in abeyance their much-touted plans to hike prices."Price hikes have been withheld for at least a month because the market sentiment right now is averse to a hike, especially after Videocon announced its lowering of MRP to hail the swadeshi budget," president of the Consumer Electronics Manufacturers' Association KS Raman said. CTV makers like Baron International (which markets the Akai brand of products with a high import content) were the first to announce Rs 500-1,000 hike in the maximum retail price (MRP) of its televisions two days after the budget to pass on the hiked costs to the consumers. Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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