Sony Expects TV Demand Rise, Passes 10% Price Cut After GST Reduction

Sony India announced on Friday that it will fully transfer the 8-10% benefit from the recent GST reduction on TV sets larger than 32 inches to consumers, anticipating a 5-10% uplift in demand amid festive season momentum. Managing Director Sunil Nayyar described the move as a catalyst for consumption, particularly in the premium 55-inch and above segment, where buyers gain a "significant price advantage."

The government slashed GST from 28% to 18% on Wednesday as part of next-generation reforms, addressing sluggish growth in the TV market driven by a high base and escalating prices over the past year. "With the GST reduction, we are hopeful that the entire benefit... will be passed on to the consumers. This will definitely boost consumption," Nayyar stated, revising earlier projections to a 5-10% demand increase.

As a leader in India's smart premium TV space, Sony plans to ramp up marketing investments to leverage positive sentiment, starting with Onam in the South and extending through Diwali. The strategy aims to capitalize on renewed affordability and consumer enthusiasm in a segment that has seen tepid expansion.

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This development could revitalize the electronics sector, encouraging broader festive spending and helping counter economic headwinds like inflation. Sony's proactive approach positions it to strengthen market share in an evolving landscape increasingly dominated by smart, high-end models.

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