Planning to buy a smartphone? It could cost you more from June because…

Smartphone prices: Two factors may negatively impact smartphone prices and could result in hikes of 10 to 15 per cent.

Published on: Feb 6, 2024, 09:57:23 IST

By HT News Desk

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If you are planning to buy a smartphone, it would be a good to complete your purchase before June as smartphone prices in India could see a hike in price, it was reported. An increase in the price of memory chips along with the strengthening of China's official currency could result in a hike in the prices of smartphones, Economic Times reported.

Smartphone prices: Market research firm Trendforce which pointed out that there is an increase in prices of DRAM.

How much will be the increase in smartphone prices?

These two factors may negatively impact smartphone prices and could result in hikes of 10 to 15 per cent, as per the report.

Why will smartphones get expensive?

The report cited market research firm Trendforce which pointed out that there is an increase in prices of DRAM (memory chips) prices as two key suppliers Samsung and Micron will likely implement a price increase starting March. This will have an impact on prices of smartphones.

Will reduction of import duty tax help ease the prices?

There will be some relief for customers as the price hike could be balanced out by the recent reduction in import duty tax on mobile phone components. The government reduced import duties on key components used in mobile manufacturing on January 31 before the interim budget. This resulted in the reduction of import duty on various components crucial for mobile manufacturing.

How accurate are these predictions?

These predictions are based on current trends and it remains to be seen if the price hike does take place.

ABOUT THE AUTHOR
HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

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