TV Prices Set to Rise Amid Rupee Depreciation and Rising Input Costs

Several television brands in India are contemplating a price hike of up to 7% due to the continued depreciation of the Indian rupee against the US dollar and the rising costs of open cells, according to industry experts and analysts. They caution that the weaker rupee and increasing production costs could impact the market in 2025, leading to a modest single-digit growth in TV shipments.

“The television manufacturing sector is under significant pricing pressure. China’s dominance in the global TV market has escalated costs and disrupted supply chains. As a result, we have no choice but to raise the prices of our TVs by the end of March,” said Avneet Singh Marwah, CEO of Super Plastronics Pvt Ltd, a Kodak brand licensee, in a statement to Moneycontrol. “The expected price increase will be between 5% and 7%.”

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Industry analysts suggest that several smaller brands, already struggling with slowing demand and increasing margin pressures, are also considering price adjustments to prevent financial losses. A final decision on the matter is likely by next month.

“To maintain profitability, brands may opt for moderate price increases rather than significant hikes, as substantial price jumps could further dampen TV shipments. The depreciating rupee, coupled with rising logistics costs, is making it more expensive for OEMs,” said Anshika Jain, an analyst at Counterpoint Research, in an interview with Moneycontrol.

The persistent pressure on margins might lead to further market consolidation, with larger companies absorbing some losses while smaller brands resort to steeper price increases to cover rising production expenses.

“The weakening rupee and increasing costs are expected to impact the market in 2025, limiting shipment growth to single digits,” Jain added.

Faisal Kawoosa, a market analyst and founder, highlighted that the television industry in India still lacks substantial domestic value addition, unlike the smartphone sector. “Key components, including TV open cells, are still being imported. Given the rupee’s depreciation, brands have little choice but to raise prices to offset the increased costs,” he explained.

Market Decline Leads to Brand Exits in 2024

According to Counterpoint Research, India’s smart TV market shrank by 3% in 2024, while the overall TV market saw a 6% decline due to macroeconomic challenges, inflation, and cautious consumer spending. These ongoing issues are expected to further hinder growth despite a trend toward premiumization.

Rising input costs have also squeezed profit margins, forcing some smaller brands to exit the Indian market.

Exclusive data from Moneycontrol reveals that over 15 smaller brands operating in the ₹10,000–₹15,000 price range withdrew from the Indian market in 2024 due to intense competition and financial strain.

“In 2023, there were more than 75 TV brands in India. However, this number has now fallen to around 60 in 2024. Brands like Intex, Philips, Amazon Basics, and Panwood, among others, have ceased selling TVs in India,” said Jain.

Notably, Chinese smartphone brands such as OnePlus and Realme have also exited India’s smart TV segment, unable to compete with established players like Xiaomi, Samsung, LG, Sony, and TCL. According to Counterpoint Research, major brands including LG, Sony, TCL, Samsung, and Xiaomi collectively accounted for more than half of smart TV shipments in 2024.