The recent price hike is noticed in home appliances like AC, washing machine, and refrigerators This new year the CEAMA, have made an impact by raising the price of raw materials and a sudden increase in freight charges. Other home appliances will also witness inflation of 5 to 10 percent until march.
Different companies came forward to show their dissent to the rise of input costs. Companies like Panasonic, Haier, and LG have already raised the prices of their products. While it is estimated that other such companies, Sony, Godrej, Hitachi, and Samsung would soon announce their upward rise in prices.
According to CEAMA (Consumer Electronics And Appliances Manufacturers Association), the industry would receive a price hike of around 5 to 10 percent in the first quarter of the year.
This news came as a shock to many buyers planning to add a new washing machine or refrigerator to their homes. With a sudden increase in the price of AC, washing machine and fridge the market would notice limited customer interest for the meantime.
Satish N S, president of Haier Appliances India told PTI, “With an unprecedented surge in the cost of commodities, global freight, and raw materials, we have taken steps to increase prices of our products by 3 to 5 percent in the refrigerator, washing machines, and air conditioner categories.” He quoted.