2 days ago
LG Electronics to Raise Air-Conditioner Prices 5-7% October 1
LG Electronics says its air-conditioners will cost 5-7% more starting October 1.
The company announced the change before another period of festive shopping.
LG said several costs have gone up.
These include the cost of materials, transportation and energy.
Changes in currency values also affected the decision.
Other companies have raised their air-conditioner prices too.
These companies include Voltas, Havells, Godrej Appliances and Bosch Home.
This means shoppers may pay more for air-conditioners from several brands.
LG Electronics will increase air-conditioner prices by 5-7% from October 1.
The increase comes before the second leg of festive sales.
LG cited higher commodity, logistics and energy costs as reasons.
Currency movements were also listed as a factor behind the hike.
Voltas, Havells, Godrej Appliances and Bosch Home have also raised AC prices.
- Who
- LG Electronics, along with Voltas, Havells, Godrej Appliances and Bosch Home.
- What
- A 5-7% increase in LG Electronics air-conditioner prices; the other listed companies have also raised AC prices.
- Where
- When
- From October 1.
- Why
- LG cited higher commodity, logistics and energy costs, as well as currency movements.
Key facts
- Company announcing increase
- LG Electronics
- Price increase
- 5-7%
- Effective date
- October 1
- Timing
- Ahead of the second leg of festive sales
- Cited factors
- Commodity, logistics and energy costs, plus currency movements
- Other companies raising prices
- Voltas, Havells, Godrej Appliances and Bosch Home
Sources
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