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LG, Samsung and Sony to impose price cut on LED TVs
Posted on: 28/Mar/2017 6:24:05 PM
The LED television market of Rs 22,000 is gearing up for a price cut with the three majors incorporating a slash down. LG, Samsung and Sony are the three brands that are set to impose a price cut as much as 15 percent. Each of the players is fighting to acquire the market share and hence is the price cut.
Smaller brands including Micromax, Intex, TCL, Sansui, and BPL show very tough competition to these market leaders. Concerned hugely by this, the giants are selling their products at Rs 2000 to Rs 10000 slashed rate, say senior industry executives.
Just like smartphones, consumers show huge interest towards buying brands that are exclusively available online. They also prefer getting their TV sets changed for every once in 5 years. The main reason for this rotational change in models is the introduction of newer models with large display that come with much lower prices and they also come with technological advancements too. Close to 80 percent of Indian TV market is with LG, Samsung and Sony. The other emerging players are gradually spreading.
Globally, no such price cut is imposed in LED televisions. However, the top brands are cornered to reduce their price in India, as the sales with other brands uptick.
