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TV AC Price Hike: Inflation on TV, Fridge, AC! Know how much prices are going to increase from this month

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TV AC Price Hike

If you are thinking of buying a new television, washing machine and refrigerator for home appliances and consumer electronics items for your home, then hurry up. Almost all major electronics companies can increase prices by three to five percent from the end of May or the first week of June. These companies have started preparing to pass the burden of increasing cost on the buyers.

According to industry sources, the depreciation of the Indian rupee against the US dollar has also added to the woes of the manufacturers as imported parts have become costlier and the industry heavily depends on imports for critical parts. Explain that due to the Ukraine war, there has been a shortage of metal and essential electronic parts from European countries. Due to which the prices may have to increase.

Shanghai’s lockdown brought disaster

Due to the strict lockdown imposed due to increasing cases of Kovid-19 in China, many ships are standing at the port of Shanghai. In such a situation, the problem of shortage of parts has increased and the pressure on the stock of the manufacturers has increased. Many such products which are heavily dependent on imports are missing from the market.

Due to the strength of the dollar, imports became expensive.

The Consumer Electronics and Equipment Manufacturers Association (Siema) said depreciation of the rupee against the US dollar has added to the problems for the industry. Eric Breganza, president of Siema, said, “With raw material prices already rising and now the US dollar is strengthening, the rupee weakens, so all manufacturers expect minimal profit. From June onwards, prices will increase by three to five per cent.

Hit on all types of consumer durables

From washing machines to air conditioners, refrigerators and other home appliances. Some AC manufacturers have increased the prices in May itself, others will increase the prices by the end of this month or in June. Breganza said that if the rupee holds the level of 77.40 against the dollar, then the manufacturers will have to balance the price. However, if it reaches the earlier level of Rs 75 in the next two weeks, there will be no need to do so.

From Panasonic to Haier raised hands

Panasonic India and South Asia Chief Executive Officer (CEO) Manish Sharma said that the cost pressure continues to mount. However, the company is trying to have the least impact on the consumers. “The last time the price hike was done was in January 2022. However, due to rising commodity prices, prices of various products can be increased by four to five per cent.

Satish NS, President, Haier Appliances India said.

Due to the lockdown in Shanghai, the supply of parts has been disrupted, the effect of which will start showing from June. ACs and flat panel TVs will have a lot of impact, while refrigerators will have less impact.

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Bikram Singh Sidhu

Advocate Bikram Singh Sidhu is a Senior Journalist at Youthistaan.com who covers latest trending, politics, business, technology news and updates.
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