Big Price Hike Incoming: Smartphone Buyers Alert!

Wanting to buy a new smartphone? It is time you act fast as the prices of several mid-range variants of few brands and their sub brands sub-brands are likely to go up by Rs 2,500 from March 1. The price hike range would be between Rs 1,500 and Rs 2,500, basing on the variant.

It is not just smartphones, the prices of other electronic gadgets like televisions and laptops are likely to increase in the coming few weeks. The prices are likely to increase by 4-8%, in addition to the hike of 21% recorded last year.

The hike in the price is mainly due to steep escalation of costs of memory components, particularly DRAM and NAND flash storage, that directly affect the device’s RAM and storage configurations.

The RAM and storage are the key components in a smartphone and with the prices being hiked globally, brands are passing on the cost hike to the consumers. The hike in the cost of memory components is driven by the increasing adoption of artificial intelligence and high-performance gadgets. So now is the best time for switching to high-memory smartphones.