According to the latest report, TV prices in India will rise sharply due to the war between Russia and Ukraine, the epidemic blockade in China, and a series of uncontrollable factors.
Indian TV makers are preparing to raise the prices of their products in response to current supply constraints. Several companies are on the verge of raising TV prices, sources said.
Join tip3x on Telegram
According to industry sources, TV makers in India have been hit hard by the Russia-Ukraine crisis. In addition to this, sources said the country’s TV makers have been badly affected by the coronavirus lockdown in China.
Notably, these factors have also affected other businesses in India. For example, Infosys in the IT industry announced that it would not work with Russian clients due to the Russia-Ukraine war. Due to these external constraints, manufacturers cannot obtain the necessary quantities of raw materials. So, their only option is to pass the burden on to the client.
Also, tech companies are reluctant to do business with or in Russia. Earlier this month, Nokia announced its departure from the Russian market. Now, the ongoing crisis is affecting TV makers in India, as most companies make more profits by selling entry-level models that don’t have a lot of profit margins.
Additionally, these companies now have to deal with supply shortages due to the coronavirus lockdown in China. As if that wasn’t enough, they had to pay more for their shipments in India due to rising fuel and diesel prices.
SPPL (Super Plastronics) CEO Avneet Singh Marwah predicts that prices may rise by at least 5-10%. This can affect multiple services, raw materials, and even final products. In his tweet, Marwah noted the “double impact” on the industry due to the coronavirus lockdown in China and the war between Russia and Ukraine.
Furthermore, he shared an article claiming that prices of various electronic items such as TVs and air conditioners may rise. It’s no industry secret that access to an adequate supply of raw materials is critical to any business.
