Are you planning to buy AC, TV or fridge? You may have to pay more money; know why!
Big companies like Samsung, Havells, Bajaj Electricals, and V-Guard have either already increased prices or are going to do so soon. It is worth noting that this increase is happening after about nine months of stability.
There is bad news for electronics buyers in India! According to Economic Times, the prices of mobile phones, TVs, refrigerators, etc. may increase by 2 to 5% from this month. Big companies like Samsung, Havells, Bajaj Electricals and V-Guard have either already increased their prices or are going to do so soon. It is worth noting that this increase is happening after about nine months of stability.
prices may increase
Samsung Electronics India, India's second-largest home appliances maker, reportedly informed its trade partners via WhatsApp message last week that 'due to increase in input costs taking into account the depreciation of the Indian rupee, we are looking at a price increase of 2.5% in the HA (home appliances) category from next month (June).'
There are many reasons behind the increase in the prices of electronic goods, including:
Inflation in raw materials: The prices of things like copper, and aluminum have increased by 20-25% in recent months, making it expensive to manufacture goods.
Shipping costs: Due to the problem in the Red Sea, the movement of ships carrying goods has been affected, due to which the cost of bringing goods has increased by two to three times.
Weakening of the rupee: The value of the Indian rupee has decreased against the US dollar, making it expensive to import goods from abroad.
Economic Times reports that not all types of electronic goods will see a uniform increase in prices. Havells Managing Director Anil Rai Gupta said that the price hike for wires and cables has been confirmed and the prices of air conditioners and refrigerators are expected to increase by 5-7% because the prices of things like copper and aluminum have increased significantly. He emphasized that the profit margins in the consumer durables sector are very low, so it is important that the customers also have to bear the slight increase in the prices of goods made at a high cost, especially on goods like cables and wires, which have low-profit margins anyway.