LG Electronics to hike AC prices by 5-7 per cent from Oct 1 ahead of festive season

LG Electronics India has announced a price rise for air conditioners starting October 1. The increase will be between 5 to 7 percent ahead of the festive season. While other consumer electronics manufacturers have also raised prices, LG has not announced changes for its other products. Industry executives have indicated that rising material costs and inflation are affecting profit margins.