Price Crash in The TV Market

With the recent crash in the prices of TV products due to the reduction in the purchasing
power of the naira, there had been an influx of new brands with lower prices in the
market.
The new brands leverage on the enhancements made possible through technology, yet
putting a stiff competition among top leading TV brands. Most of the new TV brands
now sell at lower prices in the market. These new brands include Royal TV, Rite Tek,
Syinix, Bruhm, Coocaa, Konka, Looka, UKA, and TCL, while the leading brands are
Samsung, Life’s Good (LG), Sony, Panasonic, Polyster and Hisense. The new TV
brands have triggered a price crash, which has recently made the leading brands to
lower their prices in a bid to penetrate deep in the market.


For instance, a 32” of the new TV brands cost between N36,900 and N49,990, while 32”
of leading TV brands cost between N44, 800 and N100, 000. Also, a 42” of the new TV
brands which cost between N52,000 and N63,000 while that of the leading brands cost
between N122,000 and N140,00. Furthermore, a 43” of the new TV brand, which offers
all the features offered by the leading TV brands cost between N65,250 and N69,990,
whereas a 43″ of the leading TV brands cost N92,000 and N330,000.


These new brands have mounted pressure on the leading TV brands making them
lower their prices, but, not so as significant as that of the new TV brands. Take, for
instance, a 32 inch LG which sells for N54,000 today, but was N56, 000 in the previous
month. A 32 inch Samsung which sells for N58,000 last month, now goes for N57, 500.
A 32 inch Hisense TV which sells for N48, 000 last month, now sells for N46,800. Sony,
a top brand sold for N80,000 last month, now goes for N78,000. Also, a 32 inch Sharp
TV now sells for N44,800, down from N49,999 last month. As long as the crashed
prices last, the manufacturers are moving out of the technology involved in the surface
control buttons on the TVs by adding new features to the products to be remote control

operated, like the volume, setting, Ok and input buttons, without any form of a physical
hand touch.


Based on the comparison of functions among some new TV brands, the following was
observed:


Rite Tech TV— comes with 2 USB ports, 2 HDMI ports, Energy saving capability, AV in
port and color enhancer.


Royal TV— Weighs 10kg, has energy saving capability, the number of warranty year
not mentioned, very slim, comes with 1 USB port and 1 HDMI port.
Scanfrost TV- has a gross weight of 0.5kg, a net weight 6.1, low power consumption,
56 watts, has 2 HDMI ports and a color enhancer.

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