TV Prices Drop by Up to ₹85,000 as GST Cut Triggers Festive Season Bonanza
Major TV brands cut prices sharply after GST reduction ahead of Navratri sales surge.
Television manufacturers in India have announced price reductions ranging from Rs 2,500 to Rs 85,000, passing on the benefits of a recent GST rate cut to consumers as the festive season begins with Navratri on September 22. The GST Council’s decision to lower the tax rate on TVs with screen sizes above 32 inches from 28% to 18% has prompted leading brands like Sony, LG, and Panasonic to revise their Maximum Retail Prices (MRPs) effective Monday, aiming to boost sales during the festive period.
The TV industry, which experienced stagnant sales in the first half of the fiscal year (April to September), is optimistic about a significant uptick in demand. Manufacturers anticipate that the savings from reduced prices will encourage consumers to upgrade to larger screen sizes and feature-rich models. Additionally, companies expect a surge in sales of bundled products, such as soundbars and party speakers, projecting high double-digit growth this festive season.
Sony India has slashed MRPs by Rs 5,000 to Rs 71,000 across its Bravia TV models, with the 43-inch BRAVIA 2 now priced at Rs 54,900 (down from Rs 59,900) and the 98-inch BRAVIA 5 reduced to Rs 8.29 lakh from Rs 9 lakh.
LG Electronics India announced cuts ranging from Rs 2,500 to Rs 85,800, with its 43-inch model now at Rs 28,490 (from Rs 30,990) and the 100-inch model at Rs 4,99,790 (from Rs 5,85,590).
Panasonic has lowered prices by Rs 3,000 to Rs 32,000, with its 43-inch models now ranging from Rs 33,990 to Rs 54,290, and the top-end 75-inch model reduced to Rs 3.68 lakh from Rs 4 lakh.
Also Read: New GST Rates Take Effect Tomorrow and Could Save You Money If You Check Your Bills
The price reductions are expected to invigorate the market, with manufacturers hopeful that consumers will capitalize on the savings to upscale their purchases. As the festive season kicks off, these GST-driven discounts are set to make high-quality TVs more accessible, promising a vibrant sales period for the industry.
Also Read: Haier Targets Big Festive Growth in India After GST Rate Cut
