Festive Boost: Sony India's Diwali Plans to Ignite TV Sales Growth
Sony India anticipates a significant sales surge this Diwali due to reduced prices and GST cuts on large-screen TVs. The company's managing director, Sunil Nayyar, expects over 10% growth, driven by customer upgrades to premium TVs and expansion into rural markets, despite initial challenges earlier this fiscal year.
- Country:
- India
Sony India is gearing up for a prosperous Diwali season, eyeing a double-digit sales growth fueled by reduced prices on large-screen TVs following a GST reduction, according to Managing Director Sunil Nayyar.
The company anticipates a boost in the previously flat TV market, with an expected spike in sales and customer upgrades to larger, premium TVs. Discounts ranging from Rs 8,000 to Rs 70,000 on various models are expected to entice buyers, coinciding with increased disposable income due to recent income tax cuts.
Nayyar highlighted that sales could jump by as much as 15%, notably benefiting the premium 55-inch and above models. The reduced GST on large TVs is poised to unleash pent-up demand, particularly as customers await the new rates effective September 22.
Google News