The start of the new year can be with a big shock, goods like TV, fridge and washing machine are going to be expensive, companies have clearly said that if raw material becomes expensive, then it will now burden the consumers.
New Delhi: From the new year LED TV and other appliances such as refrigerators, washing machines, microwaves, etc. will become expensive. Their prices are going to increase by 10 percent from January. Companies say that the cost of copper, aluminum and steel is also rising.
Apart from this, the prices of TV panel (Opencell) have also doubled due to low supply. Manufacturers say that due to crude oil prices, plastic prices have also increased rapidly.
Companies such as LG, Panasonic and Thomson say that it has become a compulsion to increase prices since January, while Sony is still taking stock of the situation, to decide later on the prices.
Manish Sharma, President and CEO of Panasonic India, says that “the rise in commodity prices will affect our products in the coming time, I estimate that prices may go up by 6-7%”. After this, the price is expected to increase by 10-11% in the first quarter.
Vijay Babu of LG Electronics India, Vice President – Home Appliances, says, ‘From January onwards, we are going to increase prices by 7-8 percent. Which includes TVs, washing machines and refrigerators etc. Aluminum, copper as well as plastic prices have also increased significantly ‘ Top 10 Most Popular Refrigerator Brands in India
Sony India managing director Sunil Narayan says that we are still in a state of ‘wait and watch’. Only after this we will take a decision. We are looking at the supply side, which is changing everyday. The situation is not clear yet, so we are not able to decide which way the situation is going. Panel prices have gone up and some other raw materials have also become expensive, especially regarding TV. The biggest problem is about the small screen size, their prices have increased rapidly. There are problems with the big screen size too, but it is not as much of a concern, India is still a big market for 32 inch TVs.
Super Plastronics CEO Avneet Singh Marwah says that the prices of TV Opencell have increased by more than 200%. Super Plastronics is
the brand license of Thomson and Kodak in India . Our dependence is on China because there is no other panel manufacturer in the world. So from January Thomson and Kodak will increase the price of android TV by 20 percent.
Kamal Nandi, executive vice president and business head of Godrej Appliances, says that “stagnant mining has resulted in tremendous pressure on the cost of appliances due to the increase in commodity prices by 20-25 per cent, expensive air freight, corona”. As a result, companies will increase prices by 8-10 percent in the coming time. Which will also impact demand in the next quarter ‘
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