Planning to buy air conditioners, LED TVs, washing machines and other products this festive season?
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"Copper prices have gone up by almost 25-35 per cent.
Meanwhile, Haier India President NS Satish told PTI, “If we avoid taking price hikes, we will lose money.
SPPL Director Avneet Singh Marwah said higher prices could impact festive demand as consumers generally expect discounts and promotional offers during the season.
Planning to buy air conditioners, LED TVs, washing machines and other products this festive season? Think twice before going shopping in the next few months as electronics are likely to get costlier.
Ahead of the peak festival season, leading appliances and consumer electronics makers are going to increase prices of air conditioners, LED TVs, washing machines and other products by 5 per cent to 8 per cent effective from October 1, news agency PTI reported on Sunday.
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The hike follows the rise in the costs of metals such as copper and steel, crude derivatives, and currency exchange volatility due to the ongoing West Asia crisis.
According to PTI, this will be the industry's third round of price hikes in 2026, with manufacturers saying sustained inflation in key inputs such as copper, aluminium, steel, and crude oil derivatives, coupled with higher freight costs, has made further price revisions unavoidable.
Which item gets costlier by how much? Industry executives told PTI that air-conditioner prices are set to rise 5-8 per cent; some players are also increasing prices of washing machines, refrigerators and LED TVs by 3-4 per cent.
Companies such as Blue Star, Godrej Appliance, Haier, Daikin, and Super Plastronics have already announced or confirmed price hikes ranging from 4-10 per cent across categories, while Panasonic said it was still evaluating the situation before deciding on any increase.
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Sources were quoted as saying that LG and Bosch Home Comfort, which owns Hitachi-branded air-conditioners, have also increased AC prices by around 5 per cent.
Blue Star Managing Director B Thiagarajan said prices of ACs and deep freezers have already increased by 5-8 per cent due to higher commodity costs.
"All the commodity prices have been going up because of the war. Copper, steel and plastics have all become costlier," he told PTI, adding that this is the third price increase undertaken by the company this year.
Comparing prices with last year's festive season, Thiagarajan said costs have risen around 15 per cent, but with GST benefits of about 10 per cent now available to consumers, the net impact for buyers would work out to roughly 5 per cent more.
Kamal Nandi, Business Head and Executive Vice President, Appliances Business, Godrej Enterprises Group, said another industry-wide round of price increases has become 'inevitable' after commodity prices rose 8-10 per cent since the last revision.
"Price hikes of 5-7 per cent across categories will happen. The timing may differ from brand to brand, with some implementing it from October and others from November, but it has to happen," he told PTI.
Haier India President NS Satish said the company plans to raise prices by around 5 per cent on RAC from October 1 and may undertake further increases after Diwali and again in January if input costs continue to rise.
Besides, he also confirmed a price hike of 2-3 per cent in other categories such as LED TVs, washing machines and others.
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He noted that copper prices have risen significantly over the past year, sharply increasing manufacturing costs, particularly in the air-conditioner segment where copper is a critical component
Satish said Haier plans a cumulative hike of about 15 per cent between now and January — 5 per cent from October 1, another 5 per cent around December, and a further 5 per cent in January.
He said copper prices, which were USD 8,000-9,000 per metric ton last year, have now touched USD 14,500 and are expected to keep rising, noting that an air-conditioner requires 3-4 kg of copper.
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Daikin Airconditioning India Chairman and Managing Director Kanwaljeet Jawa said the company has already increased prices by 8-10 per cent from September 16.
"Copper prices have gone up by almost 25-35 per cent. The dollar is strengthening and commodity prices continue to rise. Companies are under tremendous pressure," he said.
Super Plastronics Pvt Ltd (SPPL), which manufactures and markets television brands such as Thomson, Kodak and Blaupunkt in India, plans to increase TV prices by around 7 per cent after October, while appliance prices have already risen by 4-5 per cent.
Videotex Director Arjun Bajaj said, “Television prices for smaller screen sizes could rise by up to 20 per cent, while larger screen sizes may see increases of up to 10 per cent, depending on screen size.”
When, how will consumers be impacted? While some companies fear the hike could affect festive demand, others believe the impact will be limited, as dealers and distributors have already stocked inventory bought at older prices through pre-buying schemes in August and September.
Kamal Nandi also said consumers would still have an opportunity to buy products at existing prices during the festive season as inventory procured before the hikes remains available in the distribution channel.
"There are pipelines which will last for about a month to one-and-a-half months. Diwali should largely get covered with old-price inventory. Post-Diwali, the new prices will certainly take effect," Kamal Nandi added.
Meanwhile, Haier India President NS Satish told PTI, “If we avoid taking price hikes, we will lose money. If we increase prices, sales may be slightly impacted, but there is no choice.”
Generally, the festive period covering Onam through Dussehra and Diwali typically contributes 30-40 per cent of appliance manufacturers' annual sales, according to sector reports.
On consumer demand, Daikin Airconditioning India Chairman and Managing Director Kanwaljeet Jawa said it remained good for now. "I don't know what will happen going forward, but everybody is aware of the reality in the marketplace right now. It might affect things in the long term if the situation doesn't improve," he said.
SPPL Director Avneet Singh Marwah said higher prices could impact festive demand as consumers generally expect discounts and promotional offers during the season.
"Global instability and rising costs will definitely have some impact on consumer sentiment," he said.
Panasonic Life Solutions India Head of Product Marketing and Planning (AC category) Abhishek Verma said the company is closely monitoring market conditions to strike the right balance between pricing and demand.
"The industry continues to witness unprecedented cost pressures and we are evaluating the situation carefully," he said.
Videotex's Arjun Bajaj said rising freight costs and supply chain disruptions are expected to create a new pricing benchmark after Diwali.
