Price hike on LG monitors

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE

Price hike on LG monitors

LG Electronics India Private Limited (LGEIL) has announced price hike in its monitors owing to the constant escalation of input costs. Due to increase in price of LCD & LED panels in the international market, LG intends to hike its monitor prices in the India market.

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% 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. We hope that our partners & patrons will cooperate with us in this situation."

Considering the current scenario, the panel price increase trend will continue till September 2011 and would impact the overall set prices. 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 Rs. 3% to 5% depending upon models.

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