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Sharp falls of LCD TV prices push sales up   2008-12-23 - VietNamNet

Producers said that the consumption of LCD and plasma TVs have increased by 4-6 times compared to the same period of 2007, thanks to sharp price reductions.


The purchasing power in Hanoi and HCM City has reportedly been increasing sharply since the beginning of December 2008. According to Ngo Thanh Dat, Head of Marketing Division, under Pico Joint Stock Company, two of their home appliance centers in Hanoi can sell 600 LCD TVs a day.


Pham Truong Giang, Director of Nguyen Kim Shopping Centre on Trang Thi street in Hanoi, said that everyday the centre sells over 200 LCD and plasma TVs.


Producers said that the consumption of LCD and plasma TVs has increased by 4-6 times compared to the same period in 2007. The high consumption has been attributed to promotion programs and the sharp price decreases.


According to Dat, the promotion campaigns of this year have been designed differently from those of previous years. The surveys showed that 40% of polled consumers want to put promotion expenses on the product pricing, so that the products have low sale prices, while 30% want the promotion programs with prompt gifts, and only 15% like lucky draws.


Therefore, this year shopping centers are not offering lucky draws and outbound tourism tours, while they are trying to cut down the sale prices of products, and are thus able to lure more customers.


Samsung’s LA 32A330 model is now selling at VND 6,490,000, while LG’s 32LG10 is selling at VND 5.3 million in HCM City, while LG’s 32LG30 is VND 6,790,000. The sale prices of the products saw another price decrease of 5-10% over one month ago, after the prices had already dropped by 20%.


Some home appliance centers said that the purchasing power is increasing the segment of products priced between VND 5 million and VND 7 million.


Giang, from Nguyen Kim Shopping Centre, said that the number of clients is expected to sharply increase in January 2009. Many customers will purchase products after January 1, 2009 as they hope that the products’ prices will decrease after Vietnam opens the retail market. Besides, there will be more buyers in January because people will have received their Tet bonuses by that time, which will allow them to make much of shopping.


Sources said that some enterprises have imported low-cost LCD and Plasma TVs from regional countries, and are planning to launch the imports onto the market on Tet. The sources said that the products are dirt cheap, with 32-inch Daewoo’s and LG’s Plasma and LCD TVs to be sold at VND 4.5-5.9 million/TV set

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