2019 World cup is near and in India, the craze of the world cup is always high.
But this season cricket lovers and TV buyers are lucky enough to get TV at great prices.
As India’s two biggest television experts: Samsung and LG are cutting down their prices, so that they can counter online and Chinese brands.
The full effect of the rate cuts on 43-55 inch screen sizes will be evident by Diwali. Although prices have are down by 8-12% due to the cricket world cup.
It is been said that the prices could fall Rs. 8000 -Rs. 15000 by this September 2019.
LG dropped sticker prices of their television by Rs. 3000 – Rs.7000 and on the other hand, Samsung is offering retailers Rs. 3000 – Rs. 4000 of support for clearing the old stock for each set.
It is also being said that the new stock will carry the old sticker price which isn’t the norm.
Different marketing strategies are also used by Samsung including freebies on new models, a traded for additional discounts.
However, a Samsung India salesperson said that we are not up to reducing prices, continuing to focus on our consumer approach. He also added that we have introduced new features in our new models.
Samsung is offering indirect discounts to its customers and hasn’t changed their MRP(Maximum Retail Price), said leading retailer of Samsung.
History is repeating itself, as in past years smartphones were sold at the lowest prices by Chinese brands and that made Samsung to drop their prices.
Last month Japanese company dropped their rates up to 7-8% for sub-40 inch sets, that might force Sony to further drop prices.
However, Sony made it clear with ET last month only that this time they wouldn’t be the part of the TV price war.
This time Sony, LG and Samsung are affected by cheaper brands in case of pricing.
Director of Vijay Sales, Nilesh Gupta, said that this can affect the brand loyalties and its unlikely a buyer of Samsung, Sony and LG will shift to other brands.
As per the survey, it is been seen that Samsung is the largest in the TV market with around 30-31% followed by LG at 27-28%
By the cites IDC data, it is said that Xiaomi is claimed to the largest in India’s Smart TV Segment.
The starting price for a 40-inch TV is now around Rs.38000, LG and Samsung are already selling a UHD TV of 43-inch at Rs.41,990 to 44,990, compared with Rs.52,990 last Diwali. The price of 55-inch UHD TV which was at Rs.80000+ got reduced to Rs.63,000.