Many LED companies announced to increase product prices

Under the epidemic, the cost of raw materials, transportation, and other expenses will increase. In the future, the global supply chain will continue to face uncertain factors. Based on this, since the end of 2020, many domestic and foreign companies have announced an increase in product prices.

Many LED companies announced to increase product prices

Signify’s increase notice shows that due to the surge in demand for electronic components, tariff costs have risen sharply, supply chain capacity shortages, supply chain costs increase, transportation costs increase, product delivery dates are uncertain, manpower shortages, and many other uncertain factors Due to difficulties, Signify decided to re-adjust the price from February 1st.

Landvance Taiwan’s general distributor and OSRAM digital lighting system distribution partner, Ling Teng Technology, announced that the cost of international raw materials has hit a new high in recent years. At the same time, short-chain supply and sea freight rates have risen and shortages due to the impact of the epidemic. The situation in the cabinet was severe, and the company could not bear the pressure of operating costs and decided to make slight adjustments to prices starting from January 1.

Derun Electronics said that due to the epidemic, the mining volume of domestic and foreign non-ferrous & precious metal mines will decline in 2020, and the listed prices of copper, silver, and other metals have bottomed out in March and have risen all the way. At the beginning of January 2021, the price of copper has exceeded 60,000 RMB/MT, and the price of silver has exceeded 5,100 RMB KG, rising by as much as 60% and 80%, resulting in a substantial increase in the cost of stents.

In addition, due to the recent rebound in orders and the decrease in shipping, there is a serious shortage of copper and rubber materials. In order to meet the delivery, the unit price of the purchased materials can only be increased, and the cost has further increased. After financial accounting, many products have suffered serious losses.

Therefore, DEREN Electronics decided to increase the price of its products and implement the new unit price from the new order.

Liangyou Technology stated that the price of copper materials has continued to rise, from RMB 52,000/ton in August 2020 to RMB 59,000/ton so far, with a price increase of RMB 7,000 per ton. In recent months, some models of the company have traded at a loss and are unable to bear the losses caused by the increase in materials. Therefore, all customers have applied for price increases. Orders confirmed before December 21, 2020, will still be traded at the contract price.

The Taiwanese professional lighting manufacturing company China National Electric Corporation (brand name East Asia Lighting) announced to distributors that due to the sharp increase in raw materials, the production and supply chain will be affected. Therefore, the company will increase the price of East Asia brand lighting products, including T5/T8 light source, T5/T8 light source, LED light source, and LED light source.