The falling Rupee has its first impact in the smartphone industry with Samsung hiking prices of its phones by 4-5 percent across its smartphone portfolio, the company has confirmed BGR India. The price of Samsung’s flagship Galaxy S4 has been increased by Rs 1,500, the Galaxy S III by Rs 1,820, the Galaxy Note II by Rs 2,495 and Galaxy Grand Duos by Rs 1,000 according to unverified data compiled by PriceBaba.com. Also Read - Samsung Galaxy A22 5G launch in India today: Expected price, features, and moreAlso Read - Samsung Galaxy F22 likely to launch in India soon, but should you be excited
In the last one month, the US Dollar has appreciated from approximately Rs 59 to almost touching Rs 65, affecting most mobile phone vendors since majority of smartphones sold in the country are imported from China and elsewhere, with the transactions happening in US Dollars. Samsung is probably the first smartphone vendor in the country to hike prices, but it certainly won’t be the only one. Also Read - Samsung Galaxy S21 and S21 Plus battery capacity revealed in 3C listing
Nokia, on the other hand, is playing the waiting game. “We are weathering it right now. We have not increased prices,” said Viral Oza, marketing director, Nokia India said yesterday on the sidelines of the India launch of the Lumia 925 and the Lumia 625.
Different phone vendors react differently to unfavorable forex conditions in the market. Some might not raise prices of their existing stock in the market but will increase price of the next model they launch to recoup some losses. “We have not yet decided on the final price of our phone, which we will launch in a fortnight. We are waiting and watching the Dollar situation and will take a call as close to the launch as possible,” a spokesperson for an Indian brand told BGR India on condition of anonymity.
Even Sony India’s PlayStation chief, Atindriya Bose told BGR India earlier today that his team had decided upon an initial pricing structure for the PS4 in India, but now that has been scrapped to due to the escalating rate of the US Dollar.