LCD TV prices are expected to rise due to panel price increases, chip shortages, etc.

According to the Economic Daily, Samsung Electronics' LCD TV prices are expected to increase by 10%-15% due to rising TV panel prices and chip shortages.

Long before Samsung Electronics, Xiaomi, TCL Electronics and others announced price increases for their TV products. On April 8, Xiaomi released the "Notice on Adjusting the Official Suggested Retail Prices of Some Xiaomi TV and Redmi TV Models", saying, "Due to the sharp fluctuations in raw material costs, the official suggested retail prices of some Xiaomi TV models and some Redmi TV models will be adjusted accordingly in the near future." Xiaomi explained this round of price increases as "affected by changes in global market supply and demand, the epidemic and exchange rate changes, the prices of various TV core components including display panels and chips have continued to fluctuate sharply in recent times."

Sony also announced that it will raise the retail price of its TV products in the near future, with the average retail price of new models increasing by 5% to 10%. In addition, TCL also announced in March that it would raise the price of its TV products in April. Obviously, mainstream color TV manufacturers have started a new round of price increases. Industry experts pointed out that the price increase trend of color TVs will continue at least until the end of 2021.

It is worth noting that this is a new round of price increases for TV products from mainstream manufacturers following the collective price increases in Q3 last year.

According to the author's understanding, the terminal TV brands have raised their product prices one after another, which is related to the price increase of TVs and the increase in costs. Since June last year, the price of TV panels has continued to rise, and the prices of products of various sizes have almost doubled. At the same time, the cost of other TV materials has also increased by 30-50%. Overall, the cost of TV hardware has doubled, and finally the price has to be raised.

 In addition, affected by the increase in copper prices, shipping and container prices, white goods will be increased by about 10%, and the market expects that the increase will start in May. White goods refer to electrical products that can replace people's housework, mainly including washing machines and some kitchen appliances.

A Samsung executive in Taiwan said on the 16th that he did not deny dealers' feedback that Samsung's LCD TV prices will be raised by 10% to 15%, and the final price will be announced at the LCD TV new product launch on the 22nd.

Taiwanese media pointed out that Samsung is the world's largest LCD TV brand, and Samsung's price increase will trigger follow-up in the industry. After all, TV panels have been rising in price since June last year, and downstream brands can no longer withstand the pressure of sharply rising costs.

At present, the price increase of upstream materials is still continuing. Not only are panel prices still rising, but many global chemical, metal and other raw materials are still in an upward cycle. In the future, TV manufacturers may continue to raise product prices.