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Virus impact : TV prices may rise up to 10% from March
TV prices are likely to go up by as much as 10 per cent from next month as disrupted supply of open cell television panels - mostly imported from China - has resulted in a shortage of the key television component.
New Delhi: TV prices are likely to go up by as much as 10 per cent from next month as disrupted supply of open cell television panels - mostly imported from China - has resulted in a shortage of the key television component.
TV panels, which account for nearly 60 per cent of the price of a TV unit, are mostly imported from China. While companies had stocked in advance for Chinese New Year break but Coronavirus outbreak has caused disruption in production and supply of many key components. Though some factories have re-opened but they are working with minimal staff.
This, according to industry executives, has pushed prices of panels by almost 20 per cent. One of the executives said it would take at least one quarter for supply and production to return to normalcy, and so prices would also see an impact.
"By March 2020, TV prices will be increased by 10 per cent due to the current Coronavirus crisis of China, there is a major shortage of raw materials along with a sharp 20 per cent increase in open cell panel prices," Avneet Singh Marwah, CEO of SPPL - which is the exclusive brand licensee of Thomson TVs in India - said.
He added that in view of the current market scenario, there could be production loss of up to 30-50 per cent. Echoing similar views, Haier India President Eric Braganza said refrigerator and airconditioners prices could also increase in the coming weeks.
