LG, Haier, other brands to hike prices, ACs, TVs and fridges to cost more from Oct 1

Consumer appliances like air conditioners, televisions, refrigerators and more are set to get a price hike in India from October 1, ahead of the festive season. Prices in some cases may rise by up to 7- and 9 per cent on account of increased cost of manufacturing brought about by a chain of factors from growing component costs to currency upheavals.

The festive season in India is a time when many of us upgrade or buy new appliances. Be it a TV or an AC, usually companies bring in offers around the same time. But this year seems to be different – many appliances, including TVs, ACs, and washing machines, are set for a price hike.

Various appliance manufacturers are set to increase prices of different products from October 1, which in some cases could be up to 9 per cent, according to PTI. Notably, this will be the third such price hike for home appliances this year alone.What is the price hike and why?

The PTI report states that AC prices will likely increase somewhere between 5 to 9 per cent. On the other hand, LED TVs may see a hike of about 3 to 4 per cent. Similar increases are likely for other appliances such as washing machines and refrigerators.

The reason behind such a price hike is rising costs. As per the report, companies are facing higher prices of materials such as copper, steel, aluminium and crude derivatives. This combined with freight costs, currency volatility and turmoil in West Asia, have made another round of hikes unavoidable.

But you may not feel the impact of the hike just yet. As per the report, many dealers and distributors had stocked up their inventories in the past couple of months ahead of Diwali. This means that if you buy an appliance, like a TV for instance, from a store that has old stock, you may still be able to buy it at previous prices.

The festive season in India, spanning from Onam to Diwali typically contributes 30 to 40 per cent of annual appliance sales.Which brands are raising prices?

The price hike is expected to happen across multiple brands for various categories. Companies including Blue Star, Godrej, Haier, and Daikin Companies have either confirmed or already rolled out price revisions ranging from 4 to 10 per cent.

LG confirmed a price increase for ACs in a statement to India Today Tech. "LG Electronics India Limited will be revising AC prices upwards by 5 to 7 per cent from 1 October 2026 onwards,” the statement read. “No decision has been taken with regards to the revision of any other products as of now."

Blue Star Managing Director B Thiagarajan said prices of ACs and deep freezers have already increased by 5 to 8 per cent due to higher commodity costs. "All the commodity prices have been going up because of the war. Copper, steel and plastics have all become costlier," he told PTI. As per Thiagarajan, GST benefits for consumers will help reduce the impact of the price hike.

Haier India President NS Satish says that the price hike has become unavoidable for companies. "If we avoid taking price hikes, we will lose money. If we increase prices, sales may be slightly impacted, but there is no choice," he said.

Though not all brands may raise prices on October 1. As per Godrej’s Appliances Business VP Kamal Nandi, the timing may differ. "Price hikes of 5 to 7 per cent across categories will happen. The timing may differ from brand to brand, with some implementing it from October and others from November, but it has to happen,” he said. “Diwali should largely get covered with old-price inventory. Post-Diwali, the new prices will certainly take effect."

Once the prices come into effect across the industry, it is possible that demand takes a hit. Daikin Airconditioning India Chairman Kanwaljeet Jawa explains, "I don't know what will happen going forward, but everybody is aware of the reality in the marketplace right now. It might affect things in the long term if the situation doesn't improve."

Appliances are not the only category being affected by rising prices. Smartphones and other devices such as tablets and laptops have also faced similar hikes this year. Brands like Realme, Xiaomi, Nothing, and Oppo have raised prices in the past. Apple, too, has increased prices of select iPhones as well as MacBooks and iPads.- EndsAlso Read | Government changes mobile recharge rules, here is what Jio, Airtel and Vi users need to knowAlso Read | Apple increases prices of all older iPhones in India, even iPhone 16 gets more expensiveAlso Read | Less doomsday, more charm: How Mark Zuckerberg got his mojo back

Armaan loves to keep an eye on everything happening in the world of tech and AI. You will find him testing new gadgets, exploring the latest LLMs and making sense of the emerging tech. When not working around tech, he will be exploring new music or catching up on motorsport or aviation.