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Smart TV prices to rise this year after panel rates go up in int'l market

NT Bureau, Agencies

New Delhi: Prices of smart TVs are likely to increase in the first half of the ongoing calendar year as prices of panels have gone up in the international market, according to a report on Thursday.

The brands are likely to pass on the increase in rates, resulting in a hike in smart TV prices, according to the latest research from Counterpoint's IoT Service.

However, the report also expects "smart TV shipments to increase by 9 per cent" this year, as the demand for premium models will increase and consumers will likely upgrade to a larger screen.

"The push towards online purchases is set to increase as consumers' confidence in online platforms is increasing, which will encourage them to buy premium models from these platforms. The increasing preference for premium TVs will drive the overall market's average selling price (ASP) further," it said.

In 2023, India's smart TV shipments declined 16 per cent, impacted by a hit in the first half due to macroeconomic challenges and excess inventory, according to a Counterpoint Research report on Thursday.