Sci & Tech

Stagnant Mobile Phone Market Roils Salesmen

With the economy on verge of stagnation and unsettling disruptions in the forex market, average Iranian households are reluctant to expend their hard-earned money on mobile phones, which are turning into luxuries soon many cannot afford any more
Mobile phone prices have been increased significantly during the recent months.Mobile phone prices have been increased significantly during the recent months.
According to market insiders, two factors have contributed to the current state of affairs, one is forex fluctuations and the other is the implementation of the Cellphone Registry Scheme

The mobile phone market is on the edge of a precipice as an uncertain foreign currency rate and the war on smuggled handsets have led to a slump in the once prospering business. 
Forex fluctuations are said to be the chief culprit behind the sluggish trend, according to an interview with the head of the Telecom Traders Union Mahdi Mohebi by Mehr News Agency.
Mohebi says due to uncertainties in the forex market, customers are reluctant to purchase mobile phones. “From a month before Norouz [Iranian New Year, March 20], demand and supply started to tumble.”
He is of the opinion that until the return of stability to the currency market, the present state of stagnation will prevail.
Mohebi says mobile phone prices are still “reasonable” and “appropriate” considering the skyrocketing US dollar exchange rate and it is high time to purchase a handset if someone needs one implying that the prices are certain to spike in the coming days.
The common definition of the term “appropriate” might differ from the one the TTU’s head has in mind.


Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Add new comment