The implementation of the new GST rates on September 22nd brought significant relief to consumers across the country. The reduction in the GST on televisions, from 28% to 18%, resulted in price cuts by various TV manufacturers on Smart TV models, with savings reaching up to ₹85,000. These price reductions by TV companies directly translate into savings for consumers.
Several major TV brands, including LG, Panasonic, and Sony, have adjusted their prices. Sony India has reduced the MRP of its Bravia TV models, with price cuts ranging from ₹5,000 to ₹71,000, applicable across screen sizes from 43 inches to 98 inches. For instance, the 43-inch Bravia 2 now costs ₹54,900, reduced from ₹59,900, and the 55-inch Bravia 7 has a price of ₹2.50 lakh, down from ₹2.30 lakh. The 98-inch Bravia 5, a premium model, now sells for ₹8.29 lakh, a decrease from ₹9 lakh.
LG Electronics India has announced price reductions of ₹2,500 to ₹85,800 on its Smart TVs, spanning 43-inch to 100-inch models. A 43-inch model saw its price decrease from ₹30,990 to ₹28,490. Meanwhile, the 55-inch and 65-inch models experienced price drops of ₹3,400 each, now priced at ₹42,990 and ₹68,490, respectively.
Panasonic also implemented price cuts across its TV lineup, ranging from ₹3,000 to ₹32,000. Prices of 43-inch TVs were reduced by ₹3,000 to ₹4,700. Under the new GST rates, the 43-inch models will be available at the reduced MRPs. Furthermore, Panasonic’s 55-inch models are now priced between ₹65,990 and ₹76,990, reflecting a reduction of ₹7,000. The top-end 75-inch model from Panasonic Life Solutions India saw its MRP decrease from ₹4 lakh to ₹3.68 lakh, and the 65-inch model saw a reduction from ₹3.20 lakh to ₹2.94 lakh.
TV manufacturers anticipate an increase in sales driven by these price reductions, especially during the upcoming festive season, beginning with Navratri. Beyond TVs, manufacturers anticipate increased sales of associated products like soundbars and party speakers.
