Indian Electronics Makers Hike Prices 5-8% Amid Soaring Input Costs
Major electronics and home appliance manufacturers in India have announced price hikes ranging from 5% to 8%, citing rising input costs. The price increases are expected to affect air-conditioners, washing machines, refrigerators, and LED TVs.
The manufacturers attribute the price hike to soaring costs of raw materials such as copper, steel, aluminium, and crude derivatives. Copper prices have surged past previous averages, placing severe cost pressures on cooling appliance manufacturers who rely heavily on the metal for internal components.
Industry leaders note that failing to pass on these accumulated production costs would severely damage corporate margins, even though brands remain mindful of potential impacts on consumer demand during the core retail calendar.