If you observe the smartphone industry in India then you would have recognized that smartphones are becoming costly. A few years ago, there used to be a bunch of smartphone options between the price range of Rs 7000 and Rs 10,000. Regardless, you will not discover numerous alternatives in this price budget spectrum anymore besides from just different memory variants of the same model. Moreover, another factor to assess is that nearly every prominent smartphone from prime brands in India goes through a price hike within a couple of months of its launch in the nation. Formerly, brands used to decrease the costs of prominent smartphones to boost sales. However presently, it looks like the smartphone industry is altogether rising costs. Several smartphones from brands such as Xiaomi, Poco, Realme, Oppo, and others have gone through numerous price hikes this year.
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To recall, Xiaomi had boosted the rate of its immensely popular Redmi Note 10 smartphone thrice within five months after it launched. Not only Xiaomi, but the cost of popular models from all primary smartphone brands has also increased during 2021. The industry has altogether answered that the only reason for the heightened prices is because of a hike in import duties and taxes on elements like camera modules, chargers, PCBA, power banks, and other crucial components for creating smartphones. Mobile industry body, India Cellular and Electronics Association (ICEA) has communicated concerns over the hike in import duties in the 2021-22 budget. As per a report, ICEA chairman Pankaj Mohindroo, jotted down a letter to Union Minister of State for IT, Rajiv Chandrasekhar about the heightened tariffs on mobile parts. Mohindroo in his letter asserted that these taxes “were imposed suo motu by the Department of Revenue.”
