Prices for LED TV and electronic appliances like refrigerator, washing machines are expected to increase by around 10% from January next year due to increase in the price of key input materials like copper, aluminium and steel and rise in ocean and air freight charges. Manufacturers such as LG, Panasonic and Thomson are going to increase the prices of its appliances from January. However, Sony is still reviewing the situation and is yet to take a decision on this.

Panasonic India President & CEO Manish Sharma said he is expecting the rise of about 6-7% in January and it may incraese to 10-11% towards end of FY Q1. LG Electronics India is also going to increase the price of a minimum of 7 to 8% across its products from January 1 next year. While Sony India is still in a ‘wait and watch’ situation and yet to take a final decision on this.

Super Plastronics said that there is a scarcity of TV Opencell in the market and the prices have almost increased by 200%. However, the Consumer Electronics and Appliances Manufacturers Association (CEAMA) also gives a warning note saying that the hike in the price by brands may also affect the overall demand in the next quarter.

The Indian appliances and consumer electronics industry is largely dependent on global imports, especially from China for the sourcing of components and finished goods. According to a joint report by CEAMA and Frost & Sullivan, the industry had a total market size of Rs 76,400 crore in 2018-19, in which Rs 32,200 crore was contributed from domestic manufacturing.

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