Festive Shopping Gets Costlier as Brands Plan to Hike AC, TV and Appliance Prices From October 1
Manufacturers are passing on higher input, freight and currency costs, with some air-conditioner and TV prices already up 4% to 10%, executives said.
- Consumer electronics and appliance makers will raise prices of air conditioners, LED TVs, and refrigerators by 5-8% starting October 1, driven by higher costs of copper, steel, aluminium, and freight.
- Higher manufacturing costs for copper, steel, and aluminium are squeezing margins as commodity prices surge. Copper prices have risen to $14,500 per metric tonne from $8,000-9,000 last year, increasing air-conditioner production costs significantly.
- Companies including Blue Star, Daikin, and Super Plastronics have already confirmed price increases of 4-10% across categories. Daikin Airconditioning India chairman Kanwaljeet Jawa reported the company raised prices by 8-10% from September 16.
- Godrej Enterprises Group executive Kamal Nandi noted consumers might still find products at existing prices during the festive season as distributors pre-stocked inventory. However, Nandi cautioned that further industry-wide hikes remain "inevitable."
- Haier expects to implement a cumulative 15% increase between now and January, with additional hikes planned for December and January. Despite global instability and rising costs, 77% of Indian consumers plan to increase festive shopping budgets.
20 Articles
20 Articles
October 1st Price Hike: Buying TVs, ACs, washing machines, and refrigerators is going to get more expensive during the festive season. Several electronics companies, including LG, Godrej, and Beau Star, have confirmed price increases.
Price Hike Alert: Electronics and Appliances Cost 5% to 8% More Due to Rising Input Costs This Festive Season | 📲 LatestLY
Electronics and home appliance prices in India are set to rise ahead of the festive season, with air-conditioners expected to become 5% to 8% costlier and washing machines, refrigerators and LED TVs seeing 3% to 4% hikes. Manufacturers cite rising copper, steel, aluminium and crude costs, along with logistics expenses and currency volatility. 📲 Price Hike Alert: Electronics and Appliances Cost 5% to 8% More Due to Rising Input Costs This Festiv…
Buying an AC, TV, and refrigerator this festive season? Prices to increase up to 8% from Oct 1
Ahead of the peak festival season, leading appliances and consumer electronics makers are going to increase prices of air conditioners, LED TVs, washing machines and other products by 5 per cent to 8 per cent effective from October 1.
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.
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