Television manufacturers like Sony, LG, Panasonic and Samsung are set to increase prices of their LED/OLED sets by up to 7 per cent to offset impact of increase in customs duty which was announced in recent budget. The manufacturer have already initiated a dialogue with the government to roll back the duty hike. Panasonic is going for a hike of 2-7 per cent on its range of LED/OLED TVs. According to industry sources, Samsung is also planning for a hike of around 5-6 per cent. The move will drive inflation and have a setback on consumption as prices may go up to 7 per cent impacting the demand for TVs. However, it will help companies with local manufacturing units.
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