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Our Bureau

New Delhi, May 20

LG Electronics India Pvt Ltd (LGEIL) has announced a marginal price hike spanning across categories such as refrigerators, washing machine, microwave ovens and air conditioners, with effect from June 1. The announcement of the price hike has been attributed to the constant escalation of input costs. Commenting on the hike, Mr Girish V. Rao, Vice-President, Sales & Marketing, LGEIL, said, "It has become imperative for us to consider a price hike due to rise in input costs .

The overall impact on the company's raw material cost has steeply increased by an average 20-25 per cent due to rising prices of base metals such as copper, aluminium, zinc and HR coil, along with crude oil that increase costs of plastics and energy."

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LG announces price hike

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