Cellphone prices fall 10-15% in Iranian market

May 10, 2021 - 15:28

TEHRAN - The price of some cellphone models has dropped 10-15 percent in Iran in recent days following the drop in U.S. dollar exchange rates, an official with the Iranian Association of Cellphone, Tablet, and Accessories Importers announced on Monday.

According to Reza Ghorbani, the closure of the markets due to the coronavirus pandemic over the past two weeks, the decline in U.S. dollar exchange rates, and the clearance of new cellphone cargoes from customs have been the main reasons for the price declines.

“The cellphone market is now saturated because the sales have fallen, but imports and supply have risen,” Ghorbani said.

Back in April, the Iranian Association of Cellphones, Tablet, and Accessories Importers announced that mobile phone traders imported 15.8 million smartphones into the country over the previous Iranian calendar year (ended on March 20).

Based on the data released by the mentioned association, some 2.5 million regular mobile phones were also imported into the country over the last year.

Back in January, the spokesman of the said association had announced that the price of cellphones had dropped 12-20 percent in domestic markets.

Iran's imports of mobile phones registered a 27 percent growth in the first nine months of the previous Iranian calendar year (March 20-December 20, 2020) as compared to the preceding year’s corresponding period.

Some 8,617,438 cellphones worth over $1.34 billion were imported into the country in the mentioned period, placing the commodity at second among the top imported items, according to the Spokesman of the Islamic Republic of Iran Customs Administration (IRICA) Ruhollah Latifi.

The official noted that 6,779,012 mobile phones were cleared from the country’s customs during the Iranian calendar year 1398’s same nine months.

“The value of the imported products in the said nine months also increased by 65 percent compared to the previous year”, Latifi said.

EF/MA

Leave a Comment

4 + 0 =