TV, fridge, washing machine are going to be expensive from January; Prices will increase by 20%

This is due to the increase in the prices of key input materials such as copper, aluminum and steel and an increase in sea and air freight charges.

Appliances such as LED TVs and refrigerators, washing machines in the country are going to be about 10 percent more expensive from January next year. This is due to the increase in the prices of major input materials such as copper, aluminum and steel, and the increase in sea and air freight. Manufacturers say that apart from this, the prices of TV panels (opensail) have also increased by 200 percent due to less supply from global vendors. Plastic has also become expensive due to increase in crude prices.

Which company decided how much growth

President and CEO of Panasonic India, Manish Sharma says that we anticipate the rise in commodity prices will affect our product pricing in the near future. The prices of the products are expected to increase by 6-7 percent in January, all the appliances of LG Electronics India are going to be at least 7-8 percent expensive from January 1. These include TVs, washing machines, fridges etc.

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Sony intends

At the same time, Sony India says that there is still a situation of ‘weight and watch’ and the company is yet to take a final decision on the price hike. However, Sony has indicated that it too is going to move towards the price hike. Sony India MD Sunil Nair said that we are looking at the supply side, which is changing day by day. Nothing is clear right now, nor have we decided how much the prices should be increased. He further said that due to work from home, the demand for products is very high and supply is limited as the factories are not running with full capacity. There is a shortage in supply, which has created a situation of price rise.

Super Electronics, the brand licensee of French electronics brand Thomson and Kodak, says that the price of TV opensel has increased by 200 percent and is lacking in the market. That’s why Thomson and Kodak have decided to increase the prices of Android TV by 20 percent from January.




Demand may be affected

Meanwhile, the Consumer Electronics and Appliances Manufacturers Association (CEAMA) has warned that demand may be affected in the next quarter as brands move up the prices of appliances. Kamala Nandi, president of CEAMA, says a 20-25 per cent increase in commodity costs, a 5-6-fold increase in sea and air freight, is hindering mining activity due to the epidemic increasing the total input cost of appliances. The result is that brands may increase the price of appliances by 8-10 per cent in the near future, which could harm demand in the next quarter.