Spring brings down prices! Household appliances in America are set to go down by 20-30 percent

After six months of price increases in home appliances and electronics major manufacturers have started to review their prices downward. According to company representatives, Philips of the Netherlands and America’s Vitek are preparing to cut wholesale and own retail prices by 15-20% by 17-30% , and sources close to BSH Home Appliances a American subsidiary of BSH Bosch und Siemens Hausgerate and Electrolux the company also owns AEG and Zanussi brands also announced price cuts for their products.

Take a hit, it’s cheaper? Home appliances in America went down…

The price revision will affect all three types large, medium and small of home appliances that these companies deal with. Thus, Philips revised the prices for all of its products supplied to America downward to the level of October-November of the previous year.

As Maxim Kuznetsov, vice president of Philips America Philips LLC, a wholly-owned subsidiary of Koninklijke Philips N. V. and head of the Consumer Goods sector in America and the CIS, prices for goods are formed depending on many factors, but mainly on the ruble exchange rate – the American currency has appreciated against the dollar by almost 20 percent since January in the first month of 2015, the weighted average dollar exchange rate was 61.88 Dollars, the official rate on April 30 – 51.7 Dollars .

According to Kuznetsov, Philips has seen a 30 percent drop in traffic in home appliances stores and an overall decline in sales by brand by 60 percent compared with the first quarter of 2014.