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Highlights
- Almost every smartphone brand has increased the price of their smartphones in India (at least the good devices have seen a price hike).
- Brands including Apple and Samsung have done it as well.
- These are the two most widely used and reliable companies in the market.
Andrew Bonwick
Vice President of Product Development at Relm Insurance
Madhav Sheth
CEO of Ai+ Smartphone
Stephen Rose
CEO Render Networks
Almost every smartphone brand has increased the price of their smartphones in India (at least the good devices have seen a price hike). Brands including Apple and Samsung have done it as well. These are the two most widely used and reliable companies in the market. iPhones received a price hike recently. These were no small hikes, they were pretty big. iPhone 17 (256GB) which launched for Rs 82,900, is now priced at Rs 99,900. The iPhone Air (256GB) launched for Rs 1,19,900, but now it is priced at Rs 1,49,900. Samsung has also increased the price for its S series and A series devices in India.
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These price hikes, even though with EMI options still available in India, will result in people buying less of these devices. India is a price sensitive market. The brands do not have any other option but to increase the price of their phones with DRAM prices going up. It is not just the memory, but other components and logistics costs have also gone up in the country.
Will People Actually Buy Second Hand Phones More Now?
There has always been a market for the second hand phones. So definitely, there is an expectation that people will go more for the second hand devices now. Apple and Samsung are the top brands and users keep utilising the expensive devices from these brands for a long time. Apple and Samsung both have a long software policy for their flagship devices. Thus, they become the perfect candidate to be resold. In fact, iPhones have the best market resale value.
