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Consumer durables cos to hike prices of products by up to 3%

31 Dec 2010 Evaluate

Leading consumer durables firms Godrej and Videocon are increasing the prices of its products to offset the high input cost by up to 3 per cent by next month across categories, including refrigerators and washing machines, from January 1st. The price hike will be between 2-3 per cent. The company has decided to increase the prices due to the rising commodity prices of plastics, ferrous and non ferrous metals and its total input cost will increase by about 5-6 per cent.

Another leading domestic player Videocon is also understood to be increasing the prices of refrigerators and air conditioners by around 2 per cent. However, the company declined to confirm the development but said that it will look at increasing if the commodity prices continue to soar.

Meanwhile, other consumer durables companies LG and Whirlpool have hiked prices by up to 4 per cent across all the categories with effect from this month. While LG increased prices of its products, including refrigerators, washing machine, micro wave and television within the range of 1 to 4 percent, Whirlpool had raised prices of its products by 2 per cent this month.

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