India

New Delhi: Prices of LED Televisions are set to increase even more from April as the expense of open-cell panels has increased in the global markets by approximately 35 per cent in the previous one month.Brands including Panasonic, Haier and Thomson are considering to increase costs from April this year, while some like LG have actually already raised rates due to trek in prices of open-cell.

Panasonic India and South Asia President and CEO Manish Sharma stated, Panel prices are increasing continually therefore are the prices of Televisions.

It is most likely that TV costs may increase further by April.

When being asked about the quantum on boost, he said, Seeing current patterns, it may increase 5-7 per cent more by April.

Expressing similarly, Haier Appliances India President Eric Braganza stated there is no other method than to increase the costs.

The rates of open-cell have actually gone up tremendously and the patterns are that it would keep increasing, stated Braganza adding that if that continues, we would have to continually increase prices .

The open-cell panel is a fundamental part of TELEVISION manufacturing and covers around 60 per cent of the unit.Companies import tv panels in an open-cell state, which need further putting together with worth addition prior to being shipped to market for sale.Super Plastronics Pvt Ltd (SPPL), the brand licensee for French Electronic devices brand Thomson and US-based brand Kodak, said there is a shortage of open cell in the market and the prices have nearly increased by three-folds in the previous 8 months.

From the previous eight months, there has actually been a month-on-month increase in panel rates, we have seen more than 350 per cent spike in LED TELEVISION panels.

Worldwide, panel market has actually decreased.

Regardless of that, there has been an increase of 35 percent in the previous 30 days, stated SPPL Chief Executive Officer Avneet Singh Marwah.

He added that the per-unit expense of TVs would increase by a minimum of Rs 2,000-3,000 beginning with April.Videotex International, which owns Daiwa and Shinco brand names, said the industry has never seen or expected such a rate boost of open-cell.

Since 32 inch is the most-sold size in India, the cost of a 32-inch screen size is expected to go up by Rs 5,000-6,000, said Videotex International Group Director Arjun Bajaaj.While South Korean brand name LG said it will not increase the costs of its TV panels.

We are not going for any rate boost now for TELEVISION.

We have actually already increased the prices by around 7-4 percent in January and 3 per cent in February, due to the fact that of the hike in panel rates, stated LG Electronics India Vice-President (Home Appliances) Vijay Babu.

Marwah added that the open-cell market is dominated by Chinese makers and alleged that TELEVISION makers from China are getting better rates from them.

Presently, there is no alternative apart from China where all panel manufacturers exist.

It has been closely observed that only Chinese brand names are getting better supply and price.

This has actually been the story particularly after the pandemic, where Chinese TELEVISION brand names, which have actually been flooded in the Indian market to counter Indian manufacture brand names by much better price and supply, he added.

The government should bring TV manufacturing under the production-linked reward (PLI) scheme, a relocation which will make the Indian TELEVISION industry more competitive on the international phase, Marwah added.Last year, the federal government had brought back the import task on open cell.

It had actually re-imposed 5 per cent custom-mades duty on the import of open-cell for TVs from October 1, 2020, after having nil responsibility for a year.Besides, the government had also put imports of TELEVISION under a limited classification from totally free to promote domestic production.

Now, importer of TV needs to look for a licence from the commerce ministry's DGFT for the imports.

TELEVISION is among the largest sections under the entire domain of home appliance and customer electronics, accounting for a volume of nearly 17 million with a projected sale value of nearly Rs 25,000 crore.According to a joint report by the industry body, CEAMA and Frost - Sullivan, the TELEVISION market is anticipated to grow to 284 lakh units in 2024-25 from 175 lakh units in 2018-19.

It even more stated that the open cell panel and the chips of the TELEVISION are mainly imported from China besides some other markets as Taiwan, Thailand and Vietnam and just the last-mile assembly is performed in India.





Unlimited Portal Access + Monthly Magazine - 12 issues-Publication from Jan 2021


Buy Our Merchandise (Peace Series)

 


Contribute US to Start Broadcasting



It's Voluntary! Take care of your Family, Friends and People around You First and later think about us. Its Fine if you dont wish to contribute and if you wish to contribute then think about the Homeless first and Feed them. We can survive with your wishes too :-). You can Buy our Merchandise too which are of the finest quality.


STRIPE


[India] - Bharat Biotech transfers to adds ICMR as co-owner of Covid-19 vaccine patent


[India] - NTA chief got rid of amidst NEET-UG, UGC-NET abnormalities allegations


[India] - Indian e-two wheelers better than other nations: Ather Energy co-founder


GST Council waives interest, penalty on tax demands between FY18 and FY20


CNG price in national capital, adjoining cities hiked by Re 1 per kg


Swiss court clears Hinduja family members of human trafficking charges


Eminence Estates prepares to raise Rs 5,000 cr through QIP, monetise hotel biz


[India] - Indian deeptech startups count surges in 2023, funding drops 77%: Nasscom


[India] - Sebi orders Religare Enterprises to make an application for open deal before July 12


Meril launches indigenously developed knee-replacement robotic system


WestBridge Capital sells 1.7% stake in AU Small Fin Bank for Rs 845 cr


[India] - India now 3rd-largest domestic airline company market; capacity doubles in 10 yrs


Gland Pharma promoter Fosun divests 6% stake for Rs 1,754 cr via bulk deal


[India] - India requires new hardship line for approximating level of deprivation: Debroy


[India] - 'Integrity compromised': NTA cancels UGC-NET exam, matter with CBI


Google launches Gemini Chatbot service in India, other South Asian nations


Apple MacBook Pro with M4-series chips to arrive in Q4 2024: Report


Samsung to bring Galaxy Z Fold 6 'Slim' alternative later on this year: Report


Alyve Health raises $5.5 mn in Series A financing led by Axilor Ventures


[India] - State-run Coal India checking out lithium properties in Argentina with US business


[India] - BPCL to invest Rs 1,400 cr to establish sustainable air travel fuel facilities


[India] - HUDCO raises $200 mn from abroad loan providers for its foray into loan market


[India] - SBI prepares to raise Rs 10,000 cr through infrastructure bonds, state bankers


[India] - Adani Ports leads international peers in market price as freight volumes rise


Fitch raises India's growth estimates for FY25 to 7.2% as investments rise


[India] - Start-up Landeed raises funds from Paradigm Shift to extend line of product


Stock Exchange LIVE: Sensex, Nifty hold gains near record peaks; ixigo zooms 54% over problem rate


[India] - Budget 2024: Continuity in more ways than one in FM's seventh Budget


Indian websites saw 261% rise in cyberattacks in Q1 CY24: Report


Apple reportedly working on iPad Pro-inspired slim iPhone model for 2025


Priyanka Gandhi to make survey debut as Rahul to leave Wayanad for Rae Bareli


Jindal Stainless purchases staying 46% stake in Chromeni Steels for Rs 278 cr


Warren Buffett's Berkshire Hathaway trims its stake in China's BYD


Rahul Gandhi picks Rae Bareli, Priyanka to contest from Wayanad LS seat


[India] - ESR buys 27-acre land in commercial, logistic park in Chennai for Rs 276 cr


NCLAT orders NCLT to hear afresh insolvency plea by APL Apollo Tubes


Drone logistics solution provider Skye Air bags $4 mn in Series A funding


[India] - Motorola Razr 50 series foldable smart devices anticipated to arrive in July


FMCG companies increase prices to maintain margins due to high input costs


Tragedy in Darjeeling as trains collide, lack of Kavach raises questions


Outages, low voltage, fires: Delhi fights power woes with trippy ACs, water


WhatsApp to add voice message transcription in different languages


Israeli Army announces 'tactical time out' to increase flow of aid into Gaza


Mutual funds industry adds 8.1 mn new investor accounts in Apr-May FY25


Essar to invest Rs 30,000 cr in green hydrogen plant in Gujarat over 4 yrs


[India] - I-T relief for those in least expensive slab might be considered in Budget: CII


Dharavi project: No land to Adani group, transfer to Maharashtra govt dept


Govt headhunter interviews eight people for HPCL top post; rejects them all


Mcap of 5 of top-10 valued firms jumps Rs 85,582 cr; LIC biggest gainer


Godavari Biorefineries files IPO, aims to raise Rs 325 cr via fresh issue


NCLT orders proceeding against Supernova developer Supertech Realtors


Rajasthan govt begins recalling some batches of MDH and Everest spices


The green journey: Cleaner fuels driving one-fifth of PVs sold in India


State-owned PFC signs arrangement with CVPPPL for Rs 1,870 crore term loan


[India] - Sebi cancels registration of Grovalue Fin Services for flouting standards


LG MyView evaluation: Productivity-focused display with television capability built-in


[India] - iOS 18 dev beta presents Live Voicemail with text transcription in India





53