The Rs 13,000 crore domestic consumer electronics industry, which witnessed a decline of 20 per cent in the first quarter of the current fiscal, is showing signs of improvement.
In July, the timely monsoon has accounted for an 18 per cent sales growth in the colour television (CTV) segment, which was the worst hit by the economic downturn.
As per a study undertaken by the Consumer Electronics and Television Manufacturers Association (Cetma), the consumer electronics industry is recovering and signs of growth are becoming evident. "As per the data available from industry sources, the consumer electronics industry has begun to show improvement," says Suresh Khanna, secretary-general, Cetma.
Realising the low penetration level of consumer durables, the association has designed a five-point programme for improving the penetration and making the industry globally competitive. The programme is aimed at creating interest among the customers by launching technologies and products, better value propositions through better value packages, finance options and also going close to the customers.
Owing to the good monsoon, which is expected to revive the rural economy, the consumer electronics industry is likely to account for betterment, the association said.
The CTV category has already recorded a sale of 4.15 lakh television sets in July, up from 3.5 lakh last year in the same month. Almost 75 per cent market share has been notched up by top six brands in the segment.
While CETMA refuses to divulge details on brands, industry sources say Videocon is leading at 83,000 CTV units with its three brands -- Sansui, Akai and Videocon. It is followed by BPL which sold 68,000 units. LG and Samsung sold approximately 40,000 units each, followed by Aiwa, TCL and Bush. Onida, which sold 35,000 units, witnessed a fall in sales, while Philips, Samsung and LG improved their positioning.
