By Chris Nicholls
HONG KONG, CHINA: Chinese whitegoods manufacturer Haier has raised prices for its major home products between seven and ten per cent in its home country, citing increased labour, transport and resources prices.
According to Forbes.com, Haier sent a notice to a major Chinese retailer, requesting the price rises after higher fuel, transportation, labour and regulatory costs all took their toll.
The company’s refrigerators, washers and air conditioners all have over 30 per cent market share in China.
Haier’s price hike follows a similar move Siemens in January that increased its prices in China by five per cent. Other smaller producers are expected to follow suit.
Current.com.au sought comment from Haier Australia on the prospect of local price rises, but was unable to gain a response before publication.