In the past few days, the prices of automobiles and electronics are speculated to become lower so that the inflation rate in the country may be lowered this time.
In an unexpected turn of events, the mobile phone prices in Pakistan has seen a huge price decline of 20-30%. This follows a drop in consumption trends across the country.
This will be great news for the public of Pakistan because in the past few years, mobile prices have soared to very high levels and a handset with basic features also become very difficult to buy.
Also Read: Petrol and Diesel Prices Decreases In Pakistan
Interestingly, this price decrease corresponds with a significant rise in mobile phone imports. Mobile phone imports increased by 121 percent annually in the first three quarters of the current fiscal year, which has market analysts fascinated.
Now with the increased quantity of mobile phones in the market greater competition among different brands to increase their sales resulting in the lowering of mobile phone prices.
The influence on market pricing is pretty clear. A smartphone that was formerly priced at 100,000 rupees is now available for 70,000 rupees. Similarly, cell phones that were originally priced at sixty-four thousand rupees have dropped to fifty thousand rupees.
This price-lowering wave has also affected mid-range mobile phones. Mobile phones that were originally priced at fifty thousand rupees are now accessible for between thirty-eight and forty thousand rupees.
This advancement in the mobile phone business is guaranteed to pique the interest of consumers and may change future purchase habits.