Fridge, TV, Other Household Items Can Be Costlier By January

Fridge, TV, other household items can be costlier by January.

In the new year i.e. from January, the prices of other durable household goods such as LED TVs, fridge, washing machines can increase by 10 percent.

The rise in prices is possible due to rising raw material costs such as copper, aluminum, and steel and transportation freight being expensive.

In addition to this, manufacturers said that TV panel (open sale) prices have more than doubled due to lack of supply. With the rise in crude oil prices, plastic has also become expensive.

For manufacturers such as LG, Panasonic, and Thomson, prices will go up from January, while Sony is still reviewing the situation and has to decide.

Panasonic India President and CEO Manish Sharma said, “We believe that the rise in commodity prices in the near future will affect the prices of our products.”

I estimate that prices will go up by 6-7 percent in January and may increase by 10-11 percent by the first quarter of the financial year.

LG Electronics India is also going to increase prices by seven to eight percent from January 1 next year.

LG Electronics India vice-president (home appliances) Vijay Babu said, “From January, we are going to increase the prices of all products like TVs, electronics machines, refrigerators, etc. by seven to eight percent.

The prices of raw materials have increased rapidly. Apart from this, the price of crude oil is also increasing, so the cost of plastic material has also increased to a great extent.

Sony India is reviewing the situation on the price hike and has not decided yet. When asked about this, Sony India managing director Sunil Nayyar said, ‘not now.

We are looking at the supply side, which is changing day by day. The situation is unclear, and we are yet to decide on it, “he said. He added that panel prices and some raw material costs have gone up, especially for TV.