Samsung's appliances business grows 1.3 times in Navratri, premium TV sales double

New Delhi, Oct 9 (PTI) Samsung India on Thursday said it experienced "strong growth" in the appliances business during the nine-day-long auspicious Navratri period, supported by recent GST reforms by the government and promotional offers.

The sales of premium televisions jumped two-fold, as compared to the corresponding festive period last year, according to a statement issued by the country's leading appliances & consumer electronics maker.

Additionally, it has also reported growth in its room air conditioner sales.

Growth in sales of air conditioners and TVs was aided by the recent GST reforms by the government, which saw a substantial drop in taxation rates, leading to price reductions across consumer goods and appliances, such as TVs (above 32-inch screen size), air conditioners, and dishwashers.

"Samsung's appliances business saw strong growth during the first leg of the festive season (September 22 to October 2) on account of attractive deals that included cashback offers, easy finance and extended warranties. AC sales also benefited from the reduction in GST," said a Samsung India spokesperson.

Sales of refrigerators, washing machines and ACs posted 1.3-times growth during the Navratri period as compared to the corresponding period last year, he said.

While in the TV segment, "sales of Samsung's premium televisions jumped 2-fold as compared to the corresponding festive period last year," helped by promotional offers such as extended warranties, GST rate cut and increasing adoption of high-end AI (Artificial Intelligence) televisions in India.

"Samsung’s Vision AI-powered premium Neo QLED and OLED televisions saw huge demand from consumers during the two-week period starting September 22,” the company said.

This festive season, the industry has reported a double-digit volume growth in Navratri sales, aided by the GST reforms, in which the government lowered the duty by 10 per cent on ACs, TV screens above 32 inches in size, and dishwashers, from 28 per cent to 18 per cent.

The industry also witnessed some pent-up demand as the consumers had deferred their purchases, awaiting price cuts to take effect, after the government announced the Next-Generation (GST 2.0) reforms on September 4 and reported a spike in sales from day one, on September 22, when the new slashed rates were applicable.

According to some industry players, the savings from the lowering of GST will also help consumers to upgrade their purchases, opting for better technology, higher screen size and energy-efficient models. PTI KRH DRR HVA