LED TV, fridge, washer prices set to go up by 10% from January

Image Source : FILE IMAGE LED TV, fridge, washer prices set to go up by 10% from January Electrical home equipment may value extra within the yr 2021. It is predicted that costs for LED TV and home equipment equivalent to fridge, washing machines will go up from January onward on account of the rise in prices of key enter supplies like copper, aluminium, metal and enhance in ocean and air freights prices.  Prices of TV panels (Opencell) have additionally risen by over two-folds as a result of brief provide the worldwide distributors whereas the price of plastic has gone up as a result of rise in crude oil costs.  Terming the transfer as “imminent” and “unavoidable”, producers together with LG, Panasonic and Thomson are set to be hike the costs from January. Sony continues to be reviewing the scenario and is but to take a name.  “We expect the increase in commodity prices to impact our product pricing in near future. I anticipate the prices to go up by 6-7 per cent in January itself and may go up to 10-11 per cent towards end of FY Q1,” Panasonic India President and CEO Manish Sharma stated. READ MORE: Mandatory 1% GST legal responsibility from January 1: Who all must pay? Here’s your cheat sheet   Meanwhile, LG Electronics India too was stated it was going to extend the worth on all merchandise. “From January, we are going to increase the price of 7 to 8 percent on all products including TV, Washing machine, refrigerator etc. There is an increase in raw material prices and metals as copper and alumunium. Moreover, crude oil prices have gone up, hence the cost of plastic materials have also gone up substantially,” LG Electronics India VP- Home Appliances Vijay Babu stated.  However, Sony India stated it was but to take a last name whereas additionally hinting that it will observe swimsuit. “Not but. It is a wait and watch. We are watching the availability aspect, which is altering daily. Its blurry scenario and we now have not determined as how a lot…tendency is shifting in direction of that scenario. (With PTI inputs) Latest Business News