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Smart TV Prices Likely To Sore In India From October; Should You Get One Now?
If you are in the market looking for a new smart TV or an LED TV, then it is the best time to get one. To induce the Make In India program, the Govt of India used to offer 5 percent concession on the open cell panels used on most of the modern television and this concession period is coming to an end this month.
The Govt recently increase the price of the fully assembled televisions by almost 50 percent and on top of that, this price hike is likely to directly affect the price of the large screen TVs in India.
According to a report by The News Minute, brands will pass on this price increase directly to the customers. Hence, the price of the smart TVs and large screen TVs are likely to go up by at least four percent from next month.
Most of the TV brands in India import open-cell units, which is a major component for modern television and almost every company is likely to increase the prices of their offering. So, the price of a typical 32-inch HD TV is priced around Rs. 12,000 might go up by at least Rs. 600, whereas the price of 43-inch TV Rs. 25,000 might go up by Rs. 1200 to Rs. 1500.
Should You Buy A TV Now Or Wait Till Diwali?
Looking at the current developments, even with offers and deals, the prices of the large screen televisions are likely to go up during Diwali. Hence, if you are planning to get a new large screen TV, it is best to get one now.
Just a few months ago, the same thing happened to smartphones, where the company increased the GST from 12 to 18 percent, which was also passed on to the consumers. So, if you want a large TV, I don't see a point in waiting.
In an exclusive interview, Mr. Naveen Srinivas, CEO, Ridaex India said:
Ridaex recently launched the "Arya 1" Android LED TV series with a dream of Vocal For Local. But now it seems to be going otherwise and the expectation of manufacturing affordable televisions here in India is becoming a nightmare.
The India LED TV industry is already in stress due to a lot of cheaper Chinese products and with an increase in customs duty by 5 percent on the open cell would lead to a rise in the price. There is no other way than passing on the additional costs to the end consumer in these situations, hence the prices of the Arya 1 series will also go up.
We would have avoided these circumstances if we really have put interest and effort into MAKE IN INDIA since the beginning and supported the ecosystem to develop, including the manufacturing of open-cell panels in India. It's now or never for India.