Electronics firms to extend production cuts till August amid low demand

Consumer electronics inventory has piled up as consumers are holding back their discretionary spending, a report said

Amid subdued demand for smartphones and electronic products due to high inflation, manufacturers are now planning to extend their production cuts till August and defer plans to ramp up output for the festive season by a month, a report in the Economic Times said. 

The production of mobile phones, televisions, refrigerators, and washing machines is at 75 per cent to 85 per cent of original targets, company executives told ET, adding that inventory has piled up with consumers holding back their discretionary spending. 

This is the first time since 2017 that the electronics industry has cut production for such a