Leading Companies Cut TV Prices by 15 Per cent

Samsung, LG, Sony to cut Television prices by 15 per cent

India: To take on Micromax, Sansui, BPL & TCL and to gain maximum market share, leading giants, such as Samsung, LG, Sony have decided to minimize their television prices by 15 per cent. The small TV brands such as Micromax, TCL, BPL and Sansui are selling their products in between the range of USD29.74 to USD148.74 in the country.

80 per cent of the Indian LED TV market is captured by LG, Samsung and Sony together. However, other brands have now started capturing the market share slowly due to increasing changes in buying behavior of consumers towards online channels, where they get different major discounts at different sites.

There has been no cut in the prices of LED television at global level, but the intense competition and growing adoption of pricing strategy adopted by several brands has forced big brands to reduce their LED television prices in the country.       

TechSci Research depicts that with rising competition and improvement in technologies, big multinational companies are now focusing on increasing their volume sales to remain competitive with brands offering televisions at cheaper rates.

According to a recent report published by TechSci Research, “India Television Market By Type, By Feature, By Resolution, By Size, By Leading City, By Point of Sale, Competition Forecast & Opportunities, 2011–2021”, the television market in India is anticipated to cross US$ 9 Billion by the end of 2021. LED TV segment dominated the country’s television market in 2015, and the segment is anticipated to maintain its dominance over the next five years as well. LED televisions are energy efficient due to the implementation of various dimming technologies which save power, or technology that turns off LED television, when not in use. Moreover, LED television provides better High Definition (HD) picture quality and refresh rate, in comparison to CRT and Plasma televisions. In 2015, south region was the largest demand generating region of televisions, followed by west region. Few of the leading players operating in India television market include Panasonic, Videocon, Sony, LG, and Samsung, among others.