The television companies are set to pass on the 10 per cent benefit of the GST tax slab reduction, from 28 to 18 per cent, to Indian consumers. TV Makers are expected to reduce the price within the range of Rs 2,500 to Rs 85,000, depending on the various TV segments. In addition, they hope for a surge in sales during festive seasons, expecting that consumers will go for a better version of the TV set with their money saved after the price reduction.
What do TV makers expect?
TV sets with a screen size above 32 inches got a price reduction which is to be effective from tomorrow (September 22). However, the TV industry witnessed almost flat sales in the first half of this fiscal (April to September) and therefore price reduction amid the first day Navratri and upcoming festivals gives hope for a surge in sales. Besides, makers also expect this will boost sales of bundled products such a sound bars and party speakers as they hope for a high double-digit growth this festive season.
LG, Panasonic, and Sony set for price reduction
Sony India will reduce the MRP ranging between Rs 5,000 and Rs 71,000 on its Bravia TV models having screen sizes of 43 inches to 98 inches. The company has already reduced prices of 43-inch BRAVIA 2 to Rs 54,900 from Rs 59,900 and 55-inch BRAVIA 7 to Rs 2.50 lakh from Rs 2.30 lakh. Similarly, its top-end BRAVIA 5 with 98-inch screen size will cost Rs 8.29 lakh from Monday, compared to the existing rate of Rs 9 lakh.
LG Electronics India has also announced price cuts from Rs 2,500 to Rs 85,800 for its television sets having screen sizes of 43 inches to 100 inches. Notably, LG earlier reduced the MRP of the 43-inch screen size model to Rs 28,490 from Rs 30,990. The company has reduced rates by Rs 3,400 of two popular models in 55-inch and 65-inch screen sizes to be sold at Rs 42,990 and Rs 68,49,0, respectively.
LG’s 100-inch TV price has been slashed by Rs 85,800 to Rs 4,99,790 from Rs 5,85,590.
Panasonic has also reduced the MRP tags ranging between Rs 3,000 and Rs 32,000. It has lower the rates of 43-inch TV in the range of Rs 3,000 to Rs 4,700 and revised their MRPs (maximum retail prices) at Rs 33,990, Rs 45,990 and Rs 54,290 from the previous Rs 36,990, Rs 49,990 and Rs 58,99,0, respectively.
Panasonic’s 55-inch models are now priced between Rs 65,990 and Rs 76,990, down Rs 7,000. The MRP of Panasonic Life Solutions India’s top-end 75-inch has also been slashed to Rs 3.68 lakh from Rs 4 lakh, and that of the 65-inch top-end model to Rs 2.94 lakh from 3.20 lakh.
(With PTI Inputs)