The drive for Digital India has seen many new companies emerge in the market with their electronics and related products. Some companies including OnePlus, Samsung, Apple, Xiaomi, Redmi, Oppo, Realme, Vivo have won the hearts of Indian people with their many products. India is a very price-sensitive market, and in such a market, if companies do not price their products fairly, they will lose the love of the customers. Recently, companies are increasing the prices of their electronic products like smartphones and TVs. But why are these prices suddenly rising? Let’s say…
heavy shipping cost
One of the biggest changes the pandemic has brought about in the business world is shipping routes and shipping charges. Due to restrictions and lockdown in some places, companies now need to move to new routes and suppliers. Companies that have to take the bigger route need to spend more money. In addition, the shipping cost in general has also increased significantly.
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lack of components
It’s very simple math; The rarer the item, the higher its value. There is a serious chip shortage all over the world at the moment. This is having an impact on large scale electronics manufacturing companies. In addition, other components of electronic products such as display panels and much more have also become rare.
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Heavy shipping cost and lack of components are the two major reasons why companies selling their products on low-profit margins had to increase the prices of their products. Companies like Redmi have already increased the prices of many of their products. A few days back, we reported that the Redmi Note 10 Pro had received the second price hike in a month.
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There are many other products that will get a price hike very soon, so if you have seen a particular product at a cheaper rate and now its price has gone up, don’t be surprised.