The rupee is falling, and how. It is now hovering around the Rs 66 mark against a dollar. And, a falling rupee is going to change your life in more ways than you could have ever imagined. In fact, a report published in The Times of India notes that since the companies are under tremendous pressure due to a falling rupee, many electronic and consumer durable companies plan to hike their prices.
That means will end up paying more for televisions, mobiles, tablets, printers and other gadgetry. Of course, the price hike will dampen the sales, but as many companies actually import items, they have no option but to pass on the increased cost to the end user.
TOI reported that companies like HP could hike prices by as much as 8 percent. Samsung too will look into a revision in their pricing in selected products. The hike could be in the range of 2-5 percent. Panasonic too is expected to hike their prices by 5-7 percent, if the rupee slide continues and conditions don't not change. Sony too is flirting with the idea of a hike in the range of 4-6 percent. Read the full TOI report here.
So, like it or not, the rupee fall will be making the prices of mobiles, tablets, TVs and other goods more expensive for the consumer. Should you wait for a few months to shop for electronic items? Diwali is just a few months away, and if you think Diwali would be a good time to buy these items thanks to festival discounts, think again.
"Don't expect much cash discounts this festive season." says a report in Hindustan Times . Though companies expect consumer spirit and sentiments to be up during the up-coming festive season, the falling rupee is surely a pressure, companies are facing today. This means, though companies will launch new products, they will be extra cautious with the volumes they roll out. Read the full Hindustan Times report here.
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Updated Date: Dec 20, 2014 21:57:14 IST