Consumer electronics major, Philips India Limited has
fired first this time. At a time when other consumer electronic
manufacturers are planning to hike the prices of televisions
and other consumer electronics, Philips has done the opposite.
company has upgraded products, slashed the prices of its
television and audio models, and has introduced a new
financing scheme for its home theatre system. In addition,
the company has introduced a new television and audio
system model. All the products come with attractive gifts.
to Suresh Sukumaran, senior general manager, colour televisions,
though the offer is a part of sales promotion during the
festive Diwali season, the prices may not be hiked after
the festival. But the gifts that come with the products
now may be withdrawn after Diwali.
price cut is across segments. At the top end, for instance,
Philips'' plasma television, which earlier cost Rs5.5 lakh
is now priced at Rs3.99 lakh, with the entry level model
being available for Rs2.29 lakh against an earlier price
of Rs2.99 lakh. Similarly, the 43-inch projection is now
available for Rs74,990, down from Rs84,990. Philips India
has also reduced the prices of its large flat screen televisions.
the popular level the company has launched a 15-inch flat
colour television for Rs7,990. "This year the total
colour television market will be around 75 lakh units,
up from 71 lakh units last year," explains Sukumaran.
The market is logging an 8 per cent growth.
to him, the flat screen segment is what is logging impressive
growth vis-a-vis the traditional models. "The real
flat segment grew by 35 per cent during the first quarter
of this year," he added.
India will spend Rs20 crore on media promotion during
the Diwali season.