TV Prices Drop as GST Cuts Brighten Festive Sales Outlook

Television manufacturers are reducing prices between Rs 2,500 and Rs 85,000 to reflect the recent GST rate cut. This adjustment aims to boost sales during the festive season, with popular brands like Sony, LG, and Panasonic offering new price lists. The industry anticipates increased consumer spending and growth.

Television manufacturers are slashing prices from Rs 2,500 to Rs 85,000, passing on the benefits of a recent GST cut to consumers. The price reductions are expected to spur sales during the upcoming festival season as the GST Council's decision comes into effect on September 22.

The tax on TV sets with screen sizes over 32 inches has been reduced from 28% to 18%, prompting companies like Sony, LG, and Panasonic to announce new, lower prices across their product ranges. The industry, which reported stagnant sales in the first half of the fiscal year, is eager to capitalize on the festive season sales spike.

Manufacturers predict consumers will use their savings from the reduced TV prices to purchase larger screen sizes and more feature-rich models. Bundled product sales such as sound bars and party speakers are also expected to grow, with manufacturers aiming for double-digit growth during the festive period.

(With inputs from agencies.)