India’s market for consumer goods and electronics is anticipated to rise throughout the holiday season. Large-scale smart TV panels larger than 55 inches in size are expected to replace more conventional and small-size TV screens, according to major electronic firms like LG Electronic, Panasonic, and Thomson. QLED and OLED TVs in the premium and ultra-premium ranges are also anticipated to be in high demand from October 5 to November 19 during the World Cup.
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New Delhi, September 25: India’s consumer and electronics segment is gearing up for its annual growth spike. The electronics sector anticipates a value-driven surge of 18% to 20% over this holiday period, which also happens to be Cricket World Cup season.
Leading television manufacturing companies including LG Electronic, Panasonic, and Thomson anticipate an increase in the number of small- and conventional-sized TV screens being replaced with large-screen smart TV panels larger than 55 inches. QLED and OLED TVs in the premium and ultra-premium ranges are also anticipated to be in high demand from October 5 to November 19 during the World Cup.
As per media reports, the industry anticipates total sales growth of 18 to 20%, in addition to an increase of over 30% from premium products like large screen TVs, higher capacity refrigerators, and washing machines. Similar to previous years, the sector is preparing incentives and interest-free financing plans, together with fresh launches and loud 360-degree advertising, to attract clients.
Kamal Nandi, executive vice president and head of business at Godrej Appliances, predicted that this holiday season would once again be driven by prices, with volume remaining consistent with last year’s levels while high-end luxury products experienced over 30% growth.
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