LG hikes monitor prices | Monitor Price Rise | Increase in Monitor Prices
NEW DELHI: LG Electronics India has announced price hike on its monitors owing to the constant escalation of input costs. According to LG, with increase in price of LCD and LED panels in the international market, the company intends to hike its monitor prices in the India market. The impact of the price hike would be seen in all LG monitors staring from 15.6 to 23 inches (LCD, LED, and monitor TV) by at least 3 per cent to 5 per cent depending upon the model.
Commenting on the same, Dr Y V Verma, COO, LGEIL said, "We have always believed in providing our customers with products at best prices. Now, due to continuous increase in panel prices internationally, it has become imperative for us to consider the price hike in India. Though we have been absorbing the panel cost which contributes approximately 70 per cent of a finish set cost for the past three months but it will become difficult to avoid this change in the market prices."
The new prices will be applicable from 1st May 2011 onwards.
Considering the current scenario, the panel price increase trend will continue till September 2011 and would impact the overall set prices. read more
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