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TV prices to go up
Posted on: 03/Oct/2016 11:26:24 AM
Major television manufacturers are hiking prices by up to 20 per cent. They hope to pass on the increased cost of panels arising from a global demand supply gap. Panasonic has already increased it prices. Some companies such as Videocon, LG and Sony are still monitoring the situation.
Speaking about this, a senior executive of Panasonic said, Low supply of display panels has caused us to review our pricing and we will be increasing the price of the Panasonic television sets across screen sizes by 15 to 20 per cent. We anticipate Indian customers will now upgrade faster to larger screen sizes since the current price hike will narrow the price difference between a 32-inch and 40-inch to Rs 4,000 as compared to Rs 6,000 previously.
Executives from Videocon say, The prices of 32-inch panels have gone up the most, followed by 40-inches. In fact, the shortage may worsen further in October and panel prices may go up by another 18-20 per cent. For smaller screen, now there are few players only to supply panels. It was coupled with Apple increasing the demand and lot of players getting out of smaller screen. In India consumption of smaller screen is 70 to 75 per cent with 32 inch TV sets contributing around 38 per cent of total sales.
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