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Samsung India on Thursday said it experienced "strong growth" in the appliances business during the nine-day-long auspicious Navratri period, supported by recent GST reforms by the government and promotional offers. The sales of premium televisions jumped two-fold, as compared to the corresponding festive period last year, according to a statement issued by the country's leading appliances & consumer electronics maker. Additionally, it has also reported growth in its room air conditioner sales. Growth in sales of air conditioners and TVs was aided by the recent GST reforms by the government, which saw a substantial drop in taxation rates, leading to price reductions across consumer goods and appliances, such as TVs (above 32-inch screen size), air conditioners, and dishwashers. "Samsung's appliances business saw strong growth during the first leg of the festive season (September 22 to October 2) on account of attractive deals that included cashback offers, easy finance and ...
Television makers are lowering the prices of their products in the range of Rs 2,500 to Rs 85,000 to pass on the GST cut benefit to consumers, and expect a robust sales during the festival season beginning Monday. In an effort to boost consumption, the GST Council earlier this month decided to reduce tax rates on goods and services from September 22 -- the first day of the Navaratri, leading to price cuts of various items like television and other white goods. The duty on TV sets with screen size above 32 inches will reduce to 18 per cent from the existing 28 per cent. TV makers have already announced price cuts in the range of Rs 2,500 to Rs 85,000, depending on the screen sizes and specifications, in order to extend the benefit of a 10 per cent reduction in GST to the consumers. The TV industry, which has had almost flat sales in the first half of this fiscal (April to September) so far, expects a spike in sales during festivals, starting with Navratra this week. Moreover, the ..
Leading consumer electronics maker Sony India on Friday said it will pass on the 8-10 per cent benefit of the GST reduction on TV sets to consumers and expects up to 10 per cent pick up in the demand, its Managing Director Sunil Nayyar said. Sony India, a leading player in the rapidly evolving smart premium TV market in the country, expects a boost in consumption and is stepping up its marketing initiatives to capitalise on the momentum, he said. The company, with a significant price advantage after GST reduction, will capture the positive consumer sentiment in the festive season sales, which has already started from South with Onam. "With the GST reduction, we are hopeful that the entire benefit, ranging from 8 to 10 per cent, will be passed on to the consumers. This will definitely boost consumption, especially in the 55-inch and above TV segment, where customers stand to enjoy a significant price advantage," said Nayyar. The government on Wednesday announced next generation GST
Super Plastronics Pvt Ltd (SPPL), a TV and home appliances manufacturing company having licenses of several global brands for the Indian market, targets to cross the mark of one million units of TV sales in 2025, helped by capacity enhancement, expansion of portfolio and increasing presence in offline channels, said director and CEO Avneet Singh Marwah. The Noida-based company, which has a portfolio of global brands including, Thomson, Kodak, Blaupunkt, White-Westinghouse and White-Westinghouse (Trademark of Electrolux), plans to add licensing rights for two more global brands in the Indian market. Besides, it also plans to enter into new categories like refrigerators and expand its play in appliances, including washing machines, coolers, and more. "This year we are closing around 6,00,000 units of TVs, and next year's target is 1 million," Marwah told PTI. The company, known for its affordable range of smart TVs in the Indian market, has a current revenue base of Rs 700 crore. A .
Prices of smart TVs are likely to increase in the first half of the ongoing calendar year as prices of panels have gone up in the international market, according to a report on Thursday. The brands are likely to pass on the increase in rates, resulting in a hike in smart TV prices, according to the latest research from Counterpoint's IoT Service. However, the report also expects "smart TV shipments to increase by 9 per cent" this year, as the demand for premium models will increase and consumers will likely upgrade to a larger screen. "The push towards online purchases is set to increase as consumers' confidence in online platforms is increasing, which will encourage them to buy premium models from these platforms. The increasing preference for premium TVs will drive the overall market's average selling price (ASP) further," it said. In 2023, India's smart TV shipments declined 16 per cent, impacted by a hit in the first half due to macroeconomic challenges and excess inventory, ..
Consumer electronics major Thomson will enter the laptop market in India in the next two quarters and is also considering to export smart TVs and other products manufactured in the country to foreign markets, a company official said on Wednesday. Thomson, owned by Technicolor SA, said it is "pretty satisfied" with the quality and standards of manufacturing by its India brand licensee Super Plastronics Pvt Ltd (SPPL), which is investing Rs 300 crore to set up a fully-automated plant at Hapur in UP to increase its manufacturing capacity to 2 million TV units per annum. Thomson, which sells laptops in niche markets such as the US, France and other parts of Europe, will enter the laptop segment in India in the next two quarters in the entry, mid, and premium segments. India is one of the fastest growing markets for Thomson, which re-entered India through SPPL in 2018 after 15 years and is aiming to be among the top five global markets, said the company's Technicolor Trademark Licensing
High-speed 5G network and fixed wireless service offered by Jio and Airtel will drive growth of smart television in the country, Chinese smart device maker Xiaomi's top official said. Xiaomi India President Muralikrishnan B told PTI that the second half of 2024 is going to be the biggest after a long period, starting from Independence Day to Rakhi to Onam and now headed towards Diwali coupled with the cricket World Cup tournament. "We see an amazing opportunity to gain more market share, the next three to six months is a fantastic opportunity to gain more traction in smart television. We are optimistic that Smart TV is in India," Muralikrishnan said. According to Counterpoint research, Xiaomi led the Indian smart television market with 10 per cent market share in the first half of 2023. He said it is important to have a good home broadband connection for a good smart TV viewing, especially for videos with 4K resolution. "It's a fact that many parts of the country did not have good
Super Plastronics Pvt Ltd (SPPL), a TV manufacturing company having licenses of several global brands, expects to have around 8 per cent market share of the smart TV market in the next two years, said director and CEO Avneet Singh Marwah. The company has a portfolio of five global brands, operating in the TV and appliances segment, which includes - Thomson, Kodak, Blaupunkt, White-Westinghouse and White-Westinghouse (Trademark of Electrolux). SPPL, is increasing manufacturing capacity from the current 7 lakh units to 2 million units annually with its upcoming greenfield manufacturing facility at Hapur, in Uttar Pradesh, where it is investing Rs 300 crore to set up a fully-automated plant. "We are aiming to generate a revenue of Rs 1,200 crore in the current financial year 2023-24 and Rs 2,000 crore in the next fiscal," Marwah told PTI. In FY 2022-23, SPPL had a revenue of around Rs 700 crore and sold 4.5 lakh units of smart TV. Currently, SPPL is getting the highest contribution o