India Electronics Makers Raise Prices Up to 8% Ahead of Festive Season

Ahead of the peak festival season in India, leading consumer electronics and appliances manufacturers are increasing prices by up to 8% from October 1. The price hike affects air conditioners, LED TVs, washing machines, and other products due to rising input costs such as copper, steel, crude derivatives, and currency exchange volatility.

The industry has faced three rounds of price hikes this year alone, with manufacturers citing sustained inflation in key inputs like copper, aluminium, steel, and crude oil derivatives. Air-conditioner prices are expected to rise by 5-8%, while some players will increase washing machine, refrigerator, and LED TV prices by 3-4%.

Companies such as Blue Star, Godrej Appliance, Haier, Daikin, and Super Plastronics have already announced or confirmed price hikes ranging from 4-10%. Panasonic is still evaluating the situation before deciding on a price increase. LG and Bosch Home Comfort, which owns Hitachi-branded air-conditioners, have also increased AC prices by around 5%.

Kamal Nandi, Business Head at Godrej Enterprises Group, said another industry-wide round of price increases has become inevitable after commodity prices rose 8-10%. However, consumers will still have an opportunity to buy products at existing prices during the festive season as inventory procured before the hikes remains available in the distribution channel.