TV prices fall by ₹2,500-85,000 on lower GST; makers expect buyers to upscale purchases

Group 1: Price Reductions and GST Impact - Television manufacturers are reducing prices between ₹2,500 and ₹85,000 to pass on the GST cut benefits to consumers, anticipating strong sales during the upcoming festival season [1][3] - The GST Council has lowered tax rates on goods and services, effective September 22, leading to a reduction in the duty on TV sets larger than 32 inches from 28% to 18% [2][3] Group 2: Sales Expectations and Consumer Behavior - The TV industry, which experienced flat sales in the first half of the fiscal year, expects a surge in sales during the festival season as consumers are likely to upgrade to larger screen sizes and additional features with the savings from price reductions [3][4] - Manufacturers are optimistic about high double-digit growth in sales of bundled products like sound bars and party speakers during the festive season [4] Group 3: Specific Manufacturer Price Cuts - Sony India has announced price reductions for its Bravia TV models, with cuts ranging from ₹5,000 to ₹71,000, including a drop in the price of the 43-inch model from ₹59,900 to ₹54,900 [5] - LG Electronics India has also implemented price cuts from ₹2,500 to ₹85,800 across its TV models, with significant reductions in popular sizes [6] - Panasonic has reduced prices between ₹3,000 and ₹32,000 for its TV models, including a drop in the price of its 75-inch model from ₹4 lakh to ₹3.68 lakh [7][8]