(Image source from: Electronic items to get dearer})

Planning to get yourself alatest smartphone or upgrade your LCD to a plasma screen television? If so, then this might not be the  right time to invest. Ask why? Well, with the prices of mobile phones, TVs, laptops and printers set for a second hike, blame it on the depreciating rupee value, companies have decided to revise rates ahead of the festival months.

As uncertainty looms over currency performance and rupee slipping 14.5% against the dollar so far,  the companies are compelled to  to hike the prices on electronic goods.

Printer and computer giant HP will revise the rates by another 8%. "We have no other option, and will be increasing prices immediately," HP India president (printing and personal systems) Rajiv Srivastava told TOI.

More than half the HP products sold in India are imported, while the ones locally-made includes parts obtained from the overseas. Srivastava said the effect of increased prices is already showing up on the market. "There are certain companies who are trying to reduce, or delay, purchases," he said.

Electronics major Samsung, which had hiked prices by 2-3% last month, is set for a rate revision for the second time. Prices of some of its mobile phones and tablets have gone up by 3-5% again. "We have been compelled to increase prices of some mobiles and tablets to manage the impact of the sharp rupee depreciation on our input costs," said Vineet Taneja, country head of Samsung's mobile & IT division.

Panasonic, Japanese maker of consumer appliances and televisions, will also increase its rates "Panasonic is keenly observing the rupee movement and the quantum of the price hike will depend on the ( forex) situation which has created an imbalance in the market. It ( rupee fall) might lead to the company increasing prices by 5-7% within a few days if the condition remains the same," said Manish Sharma, MD of Panasonic India.

Sony is mulling a hike between 4% and 6% to factor in higher costs. "The rupee is hitting costs, and we have no option but to increase prices," said Sunil Nayyar, sales head for Sony India. Sony does not manufacture in India and imports all its products here.

(With inputs from TOI)

AW: Suchorita Dutta