While 2020 was full of uncertainty for all products & services, 2021 brought unforeseen challenges. Some products & services benefited, some saw a decline.
For Televisions, 2020 was better compared to 2021. As more people worked from home due to Covid-19, usage of Television increased. Due to this, organic demand for TVs saw a jump in 2020.
2021 saw disruption in supply chains and an increase in part costs. As we see in the graph below, unit sales of Televisions dropped by 25~30% in 2021.
To stay afloat, TV companies resorted to an increase in price in 2021. Below you can see a comparison of the monthly lowest prices offered by top brands in 2021 vis-a-vis 2020. Taking a conservative view, the prices of TVs have increased on an average by 15%. So while the unit sales have declined, increases in prices have made up part of the loss in value.
Mi (Xiaomi) Smart 43 Inch 4K
Mi (Xiaomi) 32 Inch HD Ready
Samsung 32 Inch HD Ready
LG 32 Inch HD Ready