Television sales may end FY20 with a 12 percent decline on the triple impact of high goods and services tax (GST), Coronavirus and ever-growing competition.
TV has been a segment in the white goods industry that has usually weathered the storm. However, in FY20, the market has been hit hard by multiple scenarios. There are about 200 million households in India that own a TV set.
The worst period for the segment so far was around the subprime crisis in 2008 when sales were down 7 percent.
The entry of new players