Previously priced at Rs64,000 in the mid-range category are now being sold for less than Rs50,000.
Mobile phone markets across the country, including Lahore and Faisalabad, are experiencing a significant drop in prices, causing a stir among the tech-savvy residents. Reports indicate that mobile phone prices have plunged by 20 to 40 percent, reshaping the consumer electronics scene in the provincial capital.
Flagship smartphones, once priced at a hefty Rs100,000, are now more accessible to the masses, with prices ranging from Rs65,000 to Rs70,000, as per market sources.
Similarly, mid-range devices previously valued at Rs64,000 are now being sold for less than Rs50,000, indicating a notable shift in affordability for Lahore’s gadget enthusiasts. Surprisingly, smartphones priced at Rs50,000 can now be found for as low as Rs35,000 to Rs38,000, signaling a democratization of high-tech gadgets in the local market.
Entry-level mobile phones, once considered a luxury, are now available at a more accessible price point of Rs20,000, making connectivity accessible to a wider segment of the population.
This substantial reduction in mobile phone prices coincides with a surge in mobile phone imports, witnessing a remarkable 121 percent increase in the first three quarters of the current fiscal year.
Analysts are puzzled by this juxtaposition of increased imports and decreased prices, speculating on its implications for consumer behavior in Pakistan.
Beyond the economic implications, this pricing revolution holds significance as mobile phones continue to drive the ongoing digital transformation worldwide.
Pakistan, recognized as one of the fastest-growing markets in the telecom sector, is now at the forefront of this transformative wave.