Punjab Newsline | Chandigarh
Consumers planning to buy an air conditioner, LED TV, washing machine or other home appliances ahead of Diwali may have to shell out more. Several leading electronics and home appliance manufacturers are preparing to increase product prices from October 1.
Companies including Blue Star, Daikin, Haier, Godrej Appliances and Super Plastronics have announced or confirmed price revisions across various product categories. Depending on the product and category, price increases are expected to range from around 4% to 10%, with several products likely to become 5%-8% more expensive.
AC Prices Also Set to Rise
The price hike is expected to affect air conditioners as well. LG and Bosch Home Comfort, which manufactures ACs under the Hitachi brand, have reportedly increased AC prices by around 5%.
Panasonic, meanwhile, is closely monitoring market conditions before deciding on any further price revision.
The move comes just ahead of the festive shopping season, when demand for consumer electronics and home appliances typically rises as consumers make purchases for their homes.
Why Are Appliance Prices Rising?
Manufacturers have cited rising input costs as one of the main reasons behind the price increases. The prices of key raw materials, including copper, steel, aluminium and plastic, have continued to rise, putting pressure on production costs.
Higher freight and logistics expenses have also increased the overall cost of manufacturing and distribution.
Companies have additionally pointed to fluctuations in the rupee against the US dollar, which can affect the cost of imported components and raw materials. Ongoing tensions in West Asia have also contributed to higher costs, particularly through their impact on transportation and supply chains.
Festive Buyers May Feel the Impact
The price revisions come at a crucial time for consumers, with Diwali shopping already picking up. Those planning to purchase expensive appliances may therefore face higher prices if they postpone their purchases until October.
With several major brands revising prices, consumers looking to buy an AC, television, washing machine or other electronic appliance before Diwali could see a noticeable difference in their overall spending.
