LG turns to richer product mix as costs rise

LG India will look to absorb further input cost pressures through a richer premium product mix and operational efficiencies to avoid another round of price hikes, Sanjay Chitkara, Director and Co-Chief Sales and Marketing Officer, LG India, said.

The consumer durables major, which has already taken two price increases, will take a calibrated, category-specific call on pricing if costs remain elevated, while balancing profitability with consumer affordability.