Pakistan Witnesses 10-15% Drop in Mobile Phone Prices

Mobile phone prices in Pakistan have experienced a notable decline of 10 to 15%, attributed to the dollar’s devaluation against the rupee and the increased local assembly of phones.

With the greenback’s exchange rate against the local currency dropping to Rs277.8 in the interbank market and Rs277.11 in the open market, this marks a significant decrease from Rs320 in August 2023.

The import of raw materials and local assembly of phones, facilitated by the opening of letters of credit (LCs), has further contributed to the reduction in smartphone rates. As a result, devices valued at Rs20,000 are now available for Rs17,000 to Rs18,000, according to Rizwan Irfan, President of the Karachi Electronics Dealers Association.

The trend extends beyond smartphones, as keypad mobile phones have also witnessed price decreases ranging from Rs100 to Rs500. This shift aligns with the growing reliance on mobile devices for accessing social media, with mobile broadband networks now covering 80% of the population, and 97% of internet connections relying on mobile connectivity.

Data from the Pakistan Telecommunication Authority reveals a surge in local smartphone assembly, with over seven million units produced in the first five months of the current financial year, compared to 8.8 million in 2022.