Starting in June, there is a possibility of a significant increase in smartphone prices in India. Here is all the essential information you should be aware of.
If you are thinking upgrading your phone, it would be advisable to do so before June as there is a possibility of smartphone prices in India increasing, as stated in a report by the Economic Times.
The report suggests that the increase in prices can be attributed to the rise in memory chips along with the strengthening of the Chinese Yuan, the official currency of China. These two factors are expected to have an worst effect on smartphone prices, potentially leading to an increase of 10 to 15 percent, as stated in the report.
What is the reason behind the increasing Smartphone Prices?
Naxii has reported that market research firm Trendforce has highlighted a rise in the prices of DRAM (memory chips). This increase is anticipated to occur in March, as two major suppliers, Samsung and Micron, are expected to implement a price hike. Trendforce predicts that this price increase will also have an impact on device prices.
The report from Naxii also cites an industry executive who anticipates a 15 % rise in memory costs, potentially resulting in an eventual surge in smartphone prices as a whole. It is important to acknowledge that customers may find some relief, the Indian Government recently reduction in import duty tax on key mobile components, potentially offsetting some of the price increase.
The import duty on essential components for mobile manufacturing was reduced from 15% to 10% as a result of this measure. It is important to note that this adjustment was made in the interim budget, and the official Union Budget will be unveiled in June following the election of the new government.
It remains uncertain if the price will rise, given that these predictions are based on current trends.
So, If you planning to buy smartphones, Then its time to you for buying smartphones at lowest price. After June in India may have increase in price.
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