Electronics Prices to Rise as Manufacturers Pass on Higher Costs

Several consumer electronics manufacturers have announced price increases for their products starting October 1. The hikes, ranging from 5-8%, are attributed to higher input costs due to rising copper, steel, aluminium, and crude oil derivative prices, as well as currency exchange volatility.

Blue Star Managing Director B Thiagarajan said the ongoing West Asia crisis has contributed to commodity price increases. 'All the commodity prices have been going up because of the war,' he stated, noting that copper, steel, and plastics have become costlier.

AC companies such as Daikin, LG, Hitachi, Godrej Appliances, Haier, and Super Plastronics are expected to raise their prices by 5-8%. LED TV and washing machine prices may also increase, with some manufacturers planning a cumulative price hike of up to 15% between now and January.

However, dealers have stocked older inventory, which may still be available at the old prices during the festive season. Some manufacturers believe that consumers may not be significantly impacted by the price increases due to GST benefits and promotional offers.