LG Electronics India on Monday announced an upward revision in air conditioner prices by 5 to 7 per cent starting October 1, ahead of the upcoming festive season.
The company has not taken any decision on revision of prices of any other LG products as of now, it clarified.
LG Electronics India offers a wide range of home appliances and consumer electronics, spanning refrigerators, washing machines, air conditioners, and TVs.
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The electronics giant did not cite any reaosn for the latest price hike.
The announcement by LG Electrnics comes at a time when several consumer electronics and appliance makers announced price hikes across air conditioners, LED TVs, washing machines and other products by 5-8% from October 1.
Higher costs of copper, steel, aluminium and crude derivatives, along with currency volatility and rising freight expenses are squeezing margins, according to industry executives cited by PTI on Sunday.
