At a cost

New Delhi, March 22: Consumer durables and home appliance companies are all set to increase prices with the summer round the corner.

Korean giant LG Electronics India Limited will raise prices in the range of 5-10 per cent across all product categories from the first week of April.

A company spokesperson said, ?The bottomlines have been impacted due to increase in oil prices, steel, copper, aluminium and plastics.?The official said the impact on resin (one of the main components) and plastics has gone up by 25 per cent. Also, steel prices, an essential raw material for refrigerators and washing machines, have scaled up by around 23 per cent.

Other companies like Electrolux Kelvinator India have already taken the lead by announcing a 5 per cent increase on all product categories earlier this month.

?There is no denying that prices will have to go up. We have to take into account the cost of external factors as well,? Electrolux Kelvinator CEO Rajeev Karwal said.

A major upward price revision will, however, be particularly in three categories ? refrigerators, washing machines and air conditioners.

On the other hand, Whirlpool Appliances, best known for its washing machines, has also announced a 3-4 per cent rise on all its products just after the budget.

Sanjay Prasad, national sales director of Whirlpool Appliances, said, ?We will announce a price hike before the month-end. With international crude oil rates touching $56 a barrel and prices of other essential components also sky-rocketing, an upward price revision is certain.