Buying TV, AC, fridge or other electronic items? This is what you must know

Are you planning to buy TV, AC, fridge or any other electronic item? Here is news for you. Due to coronavirus outbreak in China, the prices of TVs, ACs, fridges and other electronic items are expected to go up soon. Coronavirus has been hit hard by consumer durables industry. It is expected that in the coming 2-3 months, the rates of TVs, ACs, fridges and other appliances are expected to witness a surge. Reportedly, prices may witness 7-15% surge.

The negative impact on supply chain from China is expected to hit Indian markets very hard. However, the Indian government is looking to resume the stalled supply chain process from China as soon as possible.

Earlier, it was reported that season for air-conditioner sales is going to start soon, and the sector is bracing for a hike of up to 5 per cent, amid combined impact of customs duty hike on compressors and increased logistics costs due to Coronavirus outbreak in China, which is the main supplier.

Amid Coronavirus scare, several manufacturers expect 2020 to be a challenging year for the industry as they are going to airlift component such as controllers, compressors and other materials from China, Thailand and Malaysia and the increased logistic cost would put pressure on input costs, as per a report in PTI.

According to some makers, the crisis unfortunately has come at a critical time, when April-June season is knocking, during which the industry accounts around 40 to 45 per cent sale of residential ACs.