On Lebanon, Macron told Trump sanctions can play into Iran's hands, official says    Shooting heard at scene of demonstrations in central Beirut    Tennis: Martic sets up semi-final against Kontaveit in Palermo    Algeria eases coronavirus restrictions, including travel curbs and curfew    Lebanon's Aoun, UK's Johnson agree to work on recovery from blast    Gold prices in Egypt decline significantly on Saturday    Egypt cancels tender for establishing 200MW power plant in West Nile    Juventus will evaluate everything, says club president    Russia's Sberbank structures Islamic trade finance deal to supply wheat to Egypt    A statement victory from Manchester City but Guardiola keeps his cool    Egyptian expats to vote for Senate elections by mail starting Sunday    Egypt records 141 new coronavirus cases, 20 deaths on Friday    Beijing's HK office says US sanctions "clowning actions" as tensions escalate    Lebanon navigates food challenge with no grain silo and few stocks    Microsoft could buy TikTok for as much as $30 billion    Around 50,000 tourists visited Sharm El-Sheikh, Hurghada since easing lockdown    Trump issues executive orders banning WeChat and TikTok in 45 days    Egypt, Greece sign maritime demarcation agreement    Africa passes 1M confirmed virus cases; true number far more    Philippines records most coronavirus cases in eastern Asia after new surge    Egypt's net foreign reserves edge up to $38.315 bln in July: Central Bank    IMF says exploring ways to aid Lebanon, calls for movement on reforms    Call for submissions for Egypt's 'Golden Talent' competition for people with special needs    South Africa calls for 'amicable solution' for GERD    Egypt records 123 new coronavirus cases, 18 deaths on Wednesday    Egypt rejects Ethiopia's latest proposal on GERD: Irrigation ministry    Don't miss the concerts of Boghdady Jazz Big band    My visual diary    African Champions League final will be played on Oct. 16-17, CAF says    Egypt invites Tesla's founder to visit Giza Pyramids after controversial tweets    Sisi: Egypt favours negotiations over a military solution to resolve Nile dam crisis: Al-Sisi    No room to delay Egyptian Premier League games – EFA's board member    Egypt's President Sisi ratifies extending state of emergency for 3 months    Egypt Cup games to resume after Premier League finishes: EFA    The Facebook Preacher's Search for Fame, and Egypt's Economy    Arafa Holding reports $144,000 COVID-19-related losses in April    Egypt's efforts in Libya to activate free will of Libyan people: Al-Sisi    Egypt calls on UNSC to address oil spill risks off Yemen coast    Egypt economically strong in face of COVID-19, reforms ongoing: International Cooperation Minister    Hyksos campaigns were internal takeover, not foreign invaders: study    COVID-19 affects Egypt sporting clubs    COVID-19 will soon turn to seasonal like swine flu: Presidential Health Advisor    ‘Egypt's Support' coalition convenes to discuss its Senate election list    Robbery attempt leads to discovery of Ptolemaic monuments in Qena    Flouting international guidance, Ethiopia unilaterally starts filling its Nile dam    Google ‘translate' ancient Egyptian hieroglyphs    Zaha speaks out after online racial abuse    Farwell to 74-year old Egyptian military production minister El-Assar    

Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.

Egypt mobile prices increase 15% due to new NTRA fees, low imports
Companies such as Samsung, Oppo, Xiaomi have already raised their prices to cover added expenses
Published in Daily News Egypt on 06 - 07 - 2020

The prices of some mobile phones have increased by 10%, due to the recent development fees and the US dollar appreciation against the local currency.
Mobile prices are expected to witness a further 5% increase due to fees approved by the National Telecommunications Regulatory Authority (NTRA) last week, bringing the total price hike to about 15%.
Mohamed Al Mahdi, Founder and Honorary President of the Communications and Mobile Syndicate, said that some smartphone prices have risen significantly. This is the result of recent increases from companies, which further slows market sales.
Al Mahdi added that the market will witness a new increase in prices after the NTRA fees are applied, as all companies are currently re-pricing their products at a time of recession.
A source at a mobile phone company said that all of these factors affect the prices of mobile devices directly and cannot be absorbed by companies. This is especially as shipping has been affected since the beginning of the year due to the novel coronavirus (COVID-19) pandemic. As a result of the downturn in device imports, companies have tried to absorb the affected costs throughout this period and have not passed them onto the customer.
The source added that the movement of the US dollar during the last month has caused prices to increase in a way that is now unaffordable for companies. These extra costs are passed onto customers in the end product. Customers are doubly hard-hit in the wallet given that an extra 10% in costs in the form of fees imposed on the activity, which is also added to the end product.
On Sunday, a Samsung distributor announced an increase in the prices of its mobile phones, at rates ranging between EGP 100 and EGP 1,200. The announcement came before the NTRA imposed the new 5% fee.
A number of mobile phone companies have, in July, already started increasing the prices of mobile phones they sell in response to the new fees.
Samsung, Oppo, and Xiaomi, have already moved their device prices up in accordance with the new fees. The July pricing of Xiaomi devices reflects an increase of EGP 100-200 per phone.
Five Oppo models have also seen their prices inched up by EGP 100-300, while Samsung prices increased by EGP 130-1,200.

Clic here to read the story from its source.