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TV Brands: Three industry executives said Chinese brands like OnePlus and Realme are soon likely to exit the television business altogether in India, or significantly downsize it. Emails sent to OnePlus and Realme remained unanswered till press time on Thursday.
The decline in Chinese brands' shipments can be attributed to consumer preferences shifting towards mid-range and premium models from players like Sam
Online platforms such as Amazon running its Independence Day sales saw a surge in laptop sales following the government announcement, industry executives said. The sales momentum is continuing even on Monday, retailers and brands said.
Laptops and tablets are flying off the shelves and ecommerce sites amid concerns about shortages and price increases following the governments decision to restrict their free import.
But, will this have an impact on the sales growth of appliances? Kamal Nandi, Business Head & Executive Vice President at Godrej Appliances and President of the Consumer Electronics and Appliances Manufacturers Association (CEAMA) said, "In the second quarter of FY21, the industry grew by 10-12 per cent year-on-year. The growth rate in the third quarter has been in excess of 15 per cent. Given the price hike, we will see a dip in the growth rate. Growth may slow down to 7-8 per cent in Q4." Nandi added that earlier the consumers make purchases, the better it is for them. "As of now, old stock...