Cedi depreciation and a global shortage of chips for the manufacturing of mobile phones fueling serious hikes in prices of Mobile phones in Ghana.
Mobile phone dealers in Koforidua the Eastern Regional Capital are worried about the development.
According to them, prices of Mobile phones continue to see increase almost every week.
Mobile phones that were being sold Ghc500 cedis during the beginning of the year are now Ghc600 whilst those with retail prices of ghc1000 are now around Ghc1,300 cedis
The fluctuation in the prices has also been influenced by a global shortage of chips which have impacted everything including smartphone production, automobiles to video game consoles.
Chips or semiconductors have been in short supply since last year, due to several reasons including factory closures resulting from the Covid-19 pandemic and heightened demand for consumer electronics.
China is the world’s largest semiconductor importer, buying in two-thirds of its chip consumption needs, with smartphone brands still heavily reliant on imported CPUs, GPUs, and chipsets to power its devices. The country’s electronics manufacturers are therefore bearing the brunt of increased semiconductor prices.
The shortage is predicted to impact the industry by the end of 2022.
A phone dealer in Koforidua have been have tells Bryt News about price instability in the mobile phone market and its effect on their businesses.
Kobby Siddoff of Sidoff phones and accessories said the situation is worrying because it is affecting sales as many customers struggle to purchase phones due to the hikes.
Samuel Arhin, owner of Kobby Stone phones stated that the fluctuation in Mobile phone prices has created uncertainty in the Mobile phone market.
Source: Mybrytfmonline.com/Obed Ansah
