Buying TV? Get set to pay more! This is what you can blame it on
Television makers are mulling to increase prices of their products of 32 inch and above sizes from next month to offset the adverse impact of depreciating rupee against US dollar
Television makers are mulling to increase prices of their products of 32 inch and above sizes from next month to offset the adverse impact of depreciating rupee against US dollar. While Haier is planning to increase the prices by up to 5 per cent, Sony and Panasonic are closely monitoring the situation. Meanwhile, the manufacturers are reducing the prices of TV sets sized up to 68 cm (27 inch) by up to 8 per cent to extend the GST benefit to consumers.
Consumer electronic major Haier is planning to increase the prices of its TV sets from the third week of August to ward off the higher panel costs. "We would have to increase price between 4 to 5 per cent probably from the third week of August," said Haier India president Eric Braganza. "With hardening of the US dollar, international prices (of TV Panel) is going up and so we are forced to increase price," he added.
According to him, the international prices of 30 to 40 inch screen has gone up. Panasonic is also expecting a hike in the TV sets very soon. "On televisions sized 32 inches and above we expect a price hike due to increase in TV panel prices and the impact of exchange rate; having said that we are closely observing the market to evaluate the pricing," said President and CEO, Panasonic India and South Asia Manish Sharma.
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He further added that the company is absorbing maximum costs so that the consumers are not impacted much. Sony is also closely watching the situation and will take any decision over price hike at an appropriate time. "The depreciating rupee is a matter of concern. We are closely watching the situation at the moment and will take a decision at the appropriate time," said Sony India Head of Sales Satish Padmanabhan.
On being asked that whether the price hike would affect the business, Braganza said: "Main bulk of the market is 32 inch to 40 inch screen size, which price is going up. It is going to effect the business sure".