Sharp to increase all prices by 10 per cent on 1 January

By James Wells

SYDNEY: Current.com.au understands Sharp Corporation of Australia will increase prices in all categories by 10 per cent from 1 January and may be forced to increase them further by another 10 per cent in late March or early April.

A well-known retailer has provided documentation to Current.com.au this afternoon which shows that all products in the Sharp range will increase by 10 per cent from 1 January including microwaves, refrigeration, flat panel televisions and consumer electronics equipment as well as all commercial business products.

“There has been a 37 per cent drop in the Yen and the industry is in quite a bit of panic about what to do,” the retailer advised Current.com.au.

“It appears that the factories are carrying a bit, the local offices are carrying a bit and the retailers are carrying a bit, and that means the consumers have to as well.

“Life goes on, but after 25 years in this business I have not be associated with a price rise like this in consumer electronics.

“Unless something dramatic changes, Sharp would have to be looking at another 10 points around the late March or early April time period,” the retailer said.

Sharp advised retailers earlier this month that prices will increase on 1 January, but at that time there was no indication regarding the percentage increase.

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