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LG to hike AC prices by five percent from Feb 1
Saturday, 29 January 2011, 06:15 IST
New Delhi: Consumer durables maker LG Electronics India today said it will hike the prices of its air-conditioners by about five percent from February 1 to offset the impact of high raw material costs.
"Globally commodity prices are firming up. Usually 70 percent of the rise is passed on to the consumers and the rest is absorbed by us. We will increase the rates of our ACs from February by five percent," LG Electronics India (LGEIL) Business Head (Airconditioners) Ajay Bajaj said.
The company had earlier hiked the prices in December by five percent, he added.
The Korean firm today launched a range of 51 split and window ACs, priced between 
10,000 and 55,000. The new offerings replaced the old models.
Source: PTI
10,000 and 55,000. The new offerings replaced the old models.
Source: PTI