The price cut, the steepest ever, comes at a time when the top three- LG, Samsung and Sony are facing growing threat from smaller brands like Micromax, Intex, TCL, BPL and Sansui that are selling their products at prices that are Rs 2,000-10,000 cheaper.
Consumers too, are showing readiness to buy these brands that are online-exclusive or are available both online and offline. They are also increasingly changing their TV sets every four-five years, as prices of large screen models plunge and companies upgrade technology.
Globally, there has been no decrease in prices of LED televisions, but the big brands are under pressure to reduce prices in India due to sales taking a hit with several brands entering the market and playing on price.
In the past one-year, brands like Sanyo, TCL, Noble Skiodo, Polaroid, LeEco and Kodak entered the Indian market, while those like Onida and Sansui became price warriors. Local handset makers such as Micromax and Intex, too, decided to focus more on the television and appliances market.
