White goods majors line up price hikes, new launchesconsumer durable companies will embark upon a dual strategy of hiking prices of white goods and simultaneously launching hi-tech models in refrigerators, washing machines and microwave ovens.
Apnaloan.com Research Bureau
03 Sep 2007
Consumer durable companies will embark upon a dual
strategy of hiking prices of white goods and simultaneously launching hi-tech
models in refrigerators, washing machines and microwave ovens.
Reports say that consumer durables majors like Videocon, LG, Samsung and Haier are all planning price hikes by 2-7 per cent.
Videocon Industries is planning to launch refrigerators with built-in colour television and Internet, which can be operated by remote controls and priced between Rs 20,000 and Rs 1 lakh.
Videocon will increase prices of its white goods range by 5-7 per cent. Korean major, LG Electronics India is planning to hike prices of its washing machines (WM), refrigerators and microwave ovens by about 2- 4 per cent in September 2007.
Samsung India is soon launching new models of high-end side-by-side refrigerators with the improved prices.
Haier is also coming up with new innovative appliances to suit customer\'s needs, which will be followed with minimal hike in prices.
Fedders Lloyd Corporation is planning to launch new models of Llyods microwave ovens and washing machines with different prices toplug various price gaps.
In March-May 2007, durable companies hiked product prices by 4-8 per cent.
Reports also say that the prices are expected to stabilise by Diwali. Plans are on the anvil to launch premium range of refrigerators in 400 and 500 liters by changing the outdoor aesthetics and four new models of solo and grill convection microwave ovens.