Perceived risk is defined as consumers’ perception of the uncertainty and adverse consequences of engaging in a purchase activity. Since the risk is in consumers’ mind, it is perceived and not necessarily real. In this research, we have tried to understand the risk as perceived by consumers while purchasing green electronic products. By uncovering the five dimensions of risks (Financial, Functional, Physical, Psycho-social, and Time Risk) that may be holding consumers back to purchase green electronic products, this research does give some indication on how a company engaged in selling green electronic consumer products (GECPs) should pay special attention in minimizing the consumers’ level of uncertainty regarding the outcome of a purchase decision. The results of this research can be used by manufacturers and marketers of GECPs to negate common sales objections of consumers and to apply appropriate strategies to minimize and manage perceived risk.