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• Currys Sets Off LCD TV Price War

  
  08 July 2008
  

  There is some good news for anyone looking for a TV, as retailers have begun slashing prices to increase sales. Many electronics merchants have suffered falling sales rates as fewer and fewer people buy high end products. Bad news for the retailers but good news for the ailing consumer electronics market.

  
  Currys was the first to drop prices and begin the bidding war. They have dropped prices on their models as much as £300. These cuts will be extended to each and every one of the 73 models that grace their 550 stores in the UK.
  In response to this Tesco began their own slashing spree with savings of £250 applied liberally to all of the televisions in their stores and online marketplace.

  
  John Lewis quickly joined the fray with promises that their stores would match all their rivals' prices and offer a complimentary five-year guarantee on the purchase. Argos finished the panic with announcement that their prices would see some serious cuts.

  
  This flurry of action from these dealers came in response to reports citing failing spending power through the consumer network. There has already been a 3% fall in the sales reports. Several analysts also cited fears that a fall in income was lowering consumer confidence to dangerous levels.

  
  These sales should certainly help restore a bit of that. Currys has cut the prices on their 46 inch Samsung digital TVs by £340 while 42 inch LG HD LCD televisions were reduced by £300. Tesco offered a reduction of £250 on Sharp's 48 inch HD TV. Argos offered a £200 cut on all of Panasonics 37 inch models.