Global parts shortage drives up electronics prices

Wednesday, May 26, 2021 08:59

A Dien May Xanh electronics showroom in HCM City’s District 3. — VNA/VNS Photo

Electronic product prices are increasing by up to 20 per cent due to a shortage of parts and rising transport costs, and the price rise is expected to continue.

Truong Hoang Thanh, manager of an electronics retail chain in HCM City, said the newest products were at least 3-5 per cent up, with TV prices rising by 10-20 per cent.

Manufacturers warn that the TV supply shortage is likely to continue until the end of the year due to a global chip crisis.

Dao Phan Long, chairman of the Viet Nam Association of Mechanical Industry (VAMI), said many electronics and technology companies in Viet Nam were also suffering from the impact of the global chip crisis.

Similarly, Le Xuan Hoan, general director of Kangaroo Group, said the company would hike its products by 10-20 per cent because component prices had increased by 20 per cent, copper prices by 50 per cent and plastic prices by 20 per cent.

With demand for laptops and iPads rising by 20 per cent due to the strong increase in global demand for remote work and study, but supply being inadequate, their prices have increased by 15 per cent and are expected to rise further in the near future.

Nguyen Lac Huy of CellphoneS said laptops could not be transported by sea in time and had to be shipped by air, leading to a significant increase in costs.

In an email to its Vietnamese partners, Acer Company said the retail prices of laptops would increase in the second and third quarters of this year. — VNS


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