Festive Shopping Gets Costlier as Brands Plan to Hike AC, TV and Appliance Prices From October 1
8 Articles
8 Articles
The Economic Times
Times of IndiaFestive shopping gets costlier as brands plan to hike AC, TV and appliance prices from October 1
Consumer electronics and appliance manufacturers in India will increase prices of products by 5-8% starting October 1. The rise in prices is attributed to higher costs of raw materials like copper and steel. Companies including Blue Star and Haier have confirmed these increases ahead of the festive shopping season. Despite the increases, some dealers have inventory stocked at old prices for the upcoming festivals.
AC prices set to rise 5-8% from Oct 1, hikes also loom for LED TV, washing machine, refrigerator
Companies pointed to challenging environment due to sustained rise in costs of key raw materials such as copper, steel and aluminium, crude derivatives and adverse currency exchange movement
While the prices of air conditioners are likely to increase by 5 to 8 percent, some companies are going to increase the prices of washing machines, refrigerators and LED TVs by 3-4 percent.
This year, citizens are set to face a shock of inflation ahead of the festive season. Effective October 1st, major home appliance and consumer electronics manufacturers are increasing the prices of air conditioners, LED TVs, washing machines, and other electronic products by 5 to 8 percent. This increase is being made in response to rising metal prices such as copper, steel, and crude oil, and currency fluctuations due to the West Asian crisis. …
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