LG Electronics to hike AC prices by 5-7 per cent from Oct 1 ahead of festive season

LG Electronics India on Monday announced an upward revision in air conditioner prices by 5 to 7 per cent starting October 1, ahead of the upcoming festive season.

The company has not taken any decision on revision of prices of any other LG products as of now, it clarified.

LG Electronics India offers a wide range of home appliances and consumer electronics, spanning refrigerators, washing machines, air conditioners, and TVs.


Also read: Festive shopping gets costlier as brands plan to hike AC, TV and appliance prices from October 1

The electronics giant did not cite any reaosn for the latest price hike.

The announcement by LG Electrnics comes at a time when several consumer electronics and appliance makers announced price hikes across air conditioners, LED TVs, washing machines and other products by 5-8% from October 1.

Higher costs of copper, steel, aluminium and crude derivatives, along with currency volatility and rising freight expenses are squeezing margins, according to industry executives cited by PTI on Sunday.

According to the report, AC prices are expected to rise 5-8%, while some consumer durables manufacturers are also planning price hikes across washing machines, refrigerators and LED TVs by 3-4%, while some companies are still assessing the impact of higher input costs before taking a final call.

Blue Star, Godrej Appliances, Haier, Daikin and Super Plastronics have announced or confirmed price hikes of 4-10% across categories.

E-commerce giants, Amazon and Flipkart, have announced dates of annual sale events - Amazon Great Indian Festival and Flipkart Big Billion days. As consumers gear up for the festive rush, the latest increase in prices can pose a risk on household budgets.