Cost of electronics may be less this festive season as components prices return to pre-covid level

New Delhi, June 16 (KNN) The prices of electronic components used in televisions, mobile phones, appliances, and computers, as well as the shipping costs to factories, have returned to pre-Covid levels, reported ET.

In the past two years it had reached record highs and now the industry executives believe that companies might lower consumer prices starting from Diwali to stimulate demand, which has been weak for nearly a year.

As per the report by ET, consumer electronics companies are anticipated to experience an improvement in their operating profit margins due to the reduced cost pressures.

The freight expenses for shipping containers from China have significantly decreased to USD 850-1,000, in contrast to the peak of USD 8,000 observed during the height of the Covid pandemic.

Semiconductor chip prices have plummeted to an unprecedented low, reaching approximately one-tenth of their previous levels during the Covid period, while electronic component prices have declined by 60-80 per cent, as reported by industry executives.  (KNN Bureau)