Thursday, October 30, 2008

Price hike after Diwali from Mobile Companies

Mobile companies may opt for price hikes post-Diwali with the dollar touching a high of Rs 49.95. Among the handset marketers, companies like Spice Mobiles, Meridian Mobile and HTC confirmed of 15% price hike after Diwali.

Leading mobile phone manufacturers like Motorola, Sony Ericsson, and Samsung are watching the exchange rate closely to follow suit.

Handset manufacturers import around 60% of the components from China and Taiwan. Consequently, this is a double expense for manufacturers as even the Chinese yuan is weakening against the dollar. One dollar was worth 6.85 yuan till date.

Almost all the new models of all the mobile phone brands will see a price increase of 12-15%. This is mainly because of the import costs that have gone up dramatically over the last few weeks.

LG Company is just waiting and watching about the recent happenings and due to the competition, they are not going in for a price hike this week. But an official source informed that if the dollar rises further after Diwali, they will certainly take a call on this.

However, the market leader Nokia continues to remain silent on the issue.

Read more on Latest Mobile News

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