Print Edition - 2018-06-16 | MONEY
Consumer electronics sees spike in demand
Jun 16, 2018-
Demand for consumer electronics products like air conditioners, electric fans and refrigerators has surged after regular electricity supply became available.
According to government statistics, Nepal imported refrigerators, air conditioners and fans worth Rs3.69 billion in the first 10 months of the current fiscal year. The trend suggests that imports of electric appliances are likely to cross the Rs4-billion mark this fiscal year ending mid-July.
Imports of consumer electronics amounted to Rs3.29 billion in the last fiscal year 2016-17, as per Department of Customs statistics. Traders said that sales of summer goods were brisk not only due to soaring temperatures but also due to regular supply of electricity.
Domestic distributors of various home appliances like LG, Hitachi, Godrej, TCL and Colors said sales started picking up in mid-May with a rise in the temperature. They have also launched new products featuring the latest power saving and environment friendly technologies.
CG Electronics offers a wide range of consumer electronics goods including small summer appliances like fans and coolers that are power saving and environment friendly. LG is more focused on inverter technology refrigerators which are energy efficient, said Sanjay Rajbhandary, communications and brand management head at CG Electronics.
LG’s inverter technology in air conditioners has been attracting customers, he said. “We have been able to stand out in the market due to the energy-efficient products that we offer.” Prices of air conditioners from LG starts at Rs44,000.
Hitachi, one of most popular names in consumer electronics in the Nepali market, is offering the latest refrigerators and air conditioners. Sales of summer electronics goods are expected to grow 30 percent this year, said Saral Acharya, assistant manager at Universal Electrocom, the authorised distributor of Hitachi and Colors consumer electronics in Nepal.
The company offers refrigerators costing from Rs44,000 to Rs400,000. The company stocks air conditioners in the price range of Rs130,000 to Rs160,000. Similarly, Colors fan are being sold for Rs2,500 to Rs3,800. The company offers Colors refrigerators at prices ranging from Rs23,000 to Rs28,000 and air conditioners from Rs50,000 to Rs93,000. According to Acharya, prices of refrigerators, air conditioners and fans are expected to go up by 5-10 percent due to budget tax hikes. Likewise, sales of air conditioners have increased by 35-40 percent this year compared to last year, said Shailendra Jha, senior manager of CG Electronics, who looks after TCL and Godrej. Rapid urbanisation and growth in the number of corporate offices, business complexes and shopping malls has pushed up demand for air conditioners.
TCL offers two types of air conditioners: cassette and split. The 0.75 tonne to 2 tonnes air conditioners cost between Rs52,110 and Rs98,890. Similarly, air conditioners with capacities ranging from 1 tonne to 4 tonnes cost between Rs109,190 and Rs229,890. According to Jha, refrigerator prices are expected to go up by 5 percent after new shipments arrive.
Published: 16-06-2018 10:05