Amid slow sales, companies like Panasonic, BPL, and Sony have slowed the TV production by 20%. The recently concluded ICC Cricket World Cup didn’t help sales numbers, leaving them with additional stock.
Samsung and LG are also said to be assessing the situation currently.
The upcoming festive season is expected to offer a much-needed boost to the sales of consumer electronics and home appliances. However, if the experts do not see a positive sign this month, then the production of washing machines may also be slowed down.
The Industry did find some solace thanks to good numbers done by refrigerators and ACs during the summer season.