Prices of TV and home appliances are set to increases as the consumer durable market are reviewing their selling price post festive season sale and amid tight margins.
Panasonic India is set to increase the prices of its products by up to 7 percent while some other players have already increased it.
Over the last few months, the rupee has continually risen which in turn is impacting our inputs costs.
We try to take up maximum costs for our consumers but given the market situation, we will be forced to hike the price 5-7 percent from next month.
"We have ensured that the price rise comes into effect post the festive season since India tends to purchase consumer durables extensively during this time".
Festive season starts from Onam and is followed by Dussehra and lasts till Diwali and accounts for nearly one-third sales of the industry.
According to the consumer electronics and appliances manufacturers' association, there was an increase of around 3-4% in prices in September, however, it did not get materialized.
The MRP was increased the price hike undertaken in September did not really get effective due to slow demand and brands trying to gather maximum share in the marketplace during the crucial festive season.
"Onam was a washout for the industry due to Kerala floods and the festive season did not perform as per initial expectations"
As the festive season is over brands are gradually making the price hike effective we should be seeing the same implemented over November and December.
Sony has said that the company has no plans to go for a price revision we have no plans to revise the price of our television as of now.
The washing machine has witnessed almost flat growth in the first half of fiscal largely due to rupee depreciation which in turn spiked input costs.
In some segments like TV and AC, there was de-growth in volumes while refrigerators sales were almost flat.
