Buying a TV would now put a dent in your pocket; thanks to GST

If you needed a new TV, you should have considered buying one last week. As GST has been rolled out starting last Saturday, televisions are getting costlier. A visit to the electronics stores in your vicinity would establish the fact. TV manufacturer LG has already hiked the price of its LED range.

Dealers informed the ET that LG is the first among consumer durable makers to hike television (TV) prices. From LG LED televisions, LG Smart LED sets to LG UHD LED sets, dealer prices have increased in the range of 1.3 to 7% in the western region. In Delhi/NCR region, prices have gone up marginally by under 2%.
Confirming the development, Vijay Sales, managing partner, Nilesh Gupta told ET, "LG has set the trend for price increases. This is on expected lines."

Not just LG, Panasonic will increase the price of TVs and white goods such as refrigerators and microwave ovens soon. "The quantum is still being worked out and will be finalized by the end of this week,” Ajay Seth, Director of Sales & Service at Panasonic India told the ET . Sources said the impact can be between 3-4% on the existing retail prices.

Samsung, on the other hand, said prices are not being increased immediately. However, industry and trade sources said the Korean electronics maker had increased the prices of white goods by 1-2% before the announcement of GST.