New Delhi: The COVID-19 pandemic and the ongoing border tussle with China have left electronic companies high and dry. Most brands are reportedly stuck with a lot of inventory and are hence planning to offer deep discounts during the upcoming festive season.
In a report published in the Economic Times, industry experts have said that there will be good discounts for entry-level smartphones, washing machines, televisions and refrigerators. TVs have been in short supply because of the restrictions imposed on China.
Most experts say there will be cashback, longer EMI schemes, low down payments this festive season.
Panasonic India CEO Manish Sharma has said that there will be bigger discounts on mid-to-premium segment products and air conditioners which have piled up.
LG is discounting its premium smartphones by up to 60 per cent while Samsung is doing so by 35 per cent. Apple is also expected to announce discounts during Amazon and Flipkart sales. Smartphones, TVs and home appliances account for around 65-70 per cent of e-commerce business during the festive sales, the report said.
TCL will be offering high discounts on its 55-inch TVs. Realme is also planning to give higher than usual discounts during the festive sales.
BPL has pointed out that there won’t be discounts on products that are facing global shortage. However, there will be good discounts on those that are excess in stock.
LG, similarly, noted that there won’t be a lot of discount of its washing machines, refrigerators and microwave ovens as the demand is good.