LG sees 15% rise in product prices in Egypt

Big 5

Egypt’s LG CEO Don Cook expected the price of their products to increase by 15%

Prices of LG products in Egypt are likely to rise by 15 percent following the central bank’s recent move to devalue the Egyptian pound against US dollar, the company’s chief executive Don Cook said Tuesday.

In a press conference held in Cairo Tuesday, Cook assured that rise in prices is inevitable for the company to maintain its internal stability. By following this procedure, Cook believes that LG would be able to survive and keep on all their employees.