MANUFACTURE OF TV SETS

Press, Volume XCVIII, Issue 29024, 13 October 1959, Page 18

MANUFACTURE OF TV SETS

No Monopoly To Be Allowed

(New Zealana Press Association) TAUPO, October 12.

The Minister of Industries and Commerce (Mr Holloway) today warned radio and TV manufacturers at their conference at Wa:rakei that the Government would not allow monopoly of manufacture of TV equipment. He added that he had noted that radio and TV equipment was i prired with a wholesale mark-up of between 12 and 20 per cent, and a retail mark-up of between 33J per cent and 50 per cent. If these prices got out of hand, the Government would impose price control. Mr Holloway, who opened the conference, said he had noted that figures for the production of radio and TV sets had dropped recently, while other New Zealand industries which had a closed market had shown an average increase of up to 4 per cent.

With the reduction of P.A.Y.E. tax purchasing power in New Zealand had been increased by between £l7m to £lBm, and it was evident that hard times were nearly over now.

He said it was his opinion that when TV sets came on the market New Zealand would have more a head of population than any other country in the world. However, with the advent of TV it was expected that all other sales in every section of the industry would drop.