South Korean consumer goods major LG Electronics on Monday said in Mumbai that it would increase prices of its home appliances by three to five percent, due to the fall in rupee.
Director-Home Appliances Y.V. Verma said, "Due to continuous rupee depreciation, it has become imperative for us to consider price hike in India. Though we have been absorbing the increase in cost, it will become difficult to avoid this change in the market prices.
He added that the impact of the price hike would be seen in all LG home appliances products by three to five percent from June 18.
The Home Appliances division includes products like refrigerators, washing machines, microwaves, vacuum cleaners, air purifiers and dish washers.
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