LG Electronics and Samsung Electronics to raise prices of washing machines in the U.S.

While both companies have invested in a U.S. plant, in the short run expect an increase in washing machines by 5% to 10%.

With the Trump Administration slapping hefty import tariffs on large residential washers, on Thursday, LG Electronics Inc said it will raise the prices of its washing machines in the United States by around 4% to 8%.

Korea Economic Daily has reported citing anonymous industry sources, LG Electronics and Samsung Electronics plan on hiking the prices of their washing machines in the U.S., by 5% to 10%, in the second quarter.

As per a spokeswoman from LG, the company will focus on selling more of its premium washing machines, priced at $900 or more, in the U.S.

Samsung Electronics did not have an immediate comment.

When asked whether Samsung will raise the price of its washers in the United States, the firm replied it was reviewing the implications of the U.S. decision and any changes would be discussed with its business partners directly.


Categories: Creativity, Entrepreneurship, HR & Organization, Strategy

Tags: , , , , , , , , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: