LG increases prices on IT peripheral products

New Delhi, Jun 2 (UNI) LG Electronics India Pvt Ltd today raised the prices of its monitors and optical storage devices by three per cent on increasing input costs.

''It has become imperative for us to consider price hike due to rise in exchange rate, which has gone up significantly in the last one month. There is approximately seven per cent rise in exchange rate over last one month period, resulting in increased costing, calling for increase in market prices,'' company Business Group Head (Monitors and OSDs) R Manikandan said in a statement.

The company targets price increase of about seven to ten per cent in a phased manner, starting with three per cent in order to soften the sudden impact on sales, he added.

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