35% hike in mobile phone prices from tomorrow?
December 31, 2023 04:00 pm
The prices of all types of mobile phones will have to be increased from tomorrow (Jan. 01), says the Mobile Phone Sales and Dealers’ Association.
Speaking at a press conference held today (Dec. 31), the chairman of the association Samith Senarath stated that accordingly, the price of a mobile phone will be increased by around 35% from tomorrow.
Commenting on the matter, Mr. Senarath further mentioned that this decision was taken due to the increase of the Value Added Tax (VAT) to 18%, which will come into effect tomorrow.
Moreover, he expressed that it is expected that there will be a decline of purchases by about 50% in the mobile phone market in line with this price hike.
Accordingly, a mobile phone worth Rs. 100,000 will be sold at a price of Rs. 135,000 from tomorrow, as per the Mobile Phone Sales and Dealers’ Association.
