New Delhi: Computer maker HCL Infosystems has increased prices of desktops, laptops and servers by 10-15% September onwards, as depreciating rupee has pushed up its imports bill.
“We have increased the prices of most of our products by 10-15%. The hike has been gradual, we have had to increase prices from September onwards,” HCL Infosystems CEO Harsh Chitale told PTI.
The company, however, has not increased the price of its tablet PCs.
“We just launched our tablet PCs a few weeks ago and the pricing has been done, keeping in mind the forex rates. So, the prices have not been hiked for that category,” he said.
In nearly four-and-a-half months, weak economic conditions, inflation, high interest rates, increased capital outflows and trade deficit have weakened the rupee by about 20% against the US dollar.
On 15 December, the rupee fell to a historic low of 54.30 per US dollar amid sustained foreign capital outflows and strengthening greenback. Even though the domestic currency has recovered some of its lost ground since then, the decline has been worrisome for the importers.
Since the PC industry relies heavily on import of IT components (hard drive, memory, display amongst others) for product manufacturing, the price of the finished good is hugely impacted by the currency movement.
Depreciation of the Indian currency against the dollar has significantly pushed up input costs for PC-makers over the last few months, resulting in PC manufacturers hiking prices.
It has also been sort of a double whammy for computer hardware manufacturers as hard disk prices also went up last month.
Many hard disk manufacturers raised their prices, following the shortage created due to the floods in Thailand.