New Year is coming as a blow to common man, TV-fridge prices may increase

Prices of other durable household items such as LED TVs, refrigerators, washing machines can rise by up to 10 percent from January next year due to rising raw material costs such as copper, aluminum and steel and transportation freight being costlier.

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. They added that price increases have been inevitable since January for manufacturers such as LG, Panasonic and Thomson, while Sony is still reviewing the situation and has to decide.

President and CEO of Panasonic India, Manish Sharma said that 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 that 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 that not now. Now waiting. We are looking at the supply side, which is changing day by day. The situation is unclear, and we have not decided yet. He said that panel prices and some raw material costs have gone up, especially for TV.