Festive Season Price Hikes Loom for Air Conditioners, TVs, and Washing Machines

Major consumer electronics and appliance companies are planning to raise prices of air conditioners, TVs, washing machines, refrigerators, and other home appliances by 5-8% from October 1. This is the third round of price increases for some companies this year due to rising costs of raw materials such as copper, steel, aluminum, and higher freight costs.

Blue Star Managing Director B Thiagarajan said prices of ACs and deep freezers have already increased by 5-8% because of higher commodity costs. He added that copper, steel, and plastics have become more expensive, and this is the company's third price increase this year.

Godrej Enterprises Group Business Head Kamal Nandi said another industry-wide price increase had become necessary after commodity prices rose 8-10% since the previous revision. He predicted that prices could rise by 5-7% across categories, with some companies implementing the increase from October and others from November.

Haier India President NS Satish said the company plans to increase prices of room air-conditioners by around 5% from October 1. The company may also raise prices after Diwali and again in January if input costs continue to increase.