40 Percent Price Increase for Smartphones!

Mustafa Kemal Turnacı, President of the Mobile Communication Tools and Information Technologies Businessmen’s Association (MOBİSAD), announced that input costs in the production and supply processes in the smartphone market continue to increase, so new increases in phone prices may come to the fore. According to the data shared with the public by Mobisat, which represents 15 thousand sales points across the country, consumers began to accelerate their purchases due to the prediction of a price increase in smartphones.

Turnacı emphasized that market dynamics have changed due to inflation and the decrease in purchasing power, and said that citizens have started to act in accordance with their budgets when buying smartphones. 11-12 MILLION PHONES ARE SOLD PER YEAR While it is stated that approximately 11-12 million smartphones are sold in Turkey every year, it is stated that the interest in the latest technology phones has decreased compared to previous periods and consumers are turning to entry segment phones at the level of 20 thousand lira.

Experts stated that people in the upper income group continue to prefer new generation phones because they are less affected by inflation and the decrease in purchasing power, while citizens in the middle and lower income groups have to turn to models suitable for their budgets. “INSTALLMENT LIMIT SHOULD BE INCREASED TO 50 THOUSAND LIRAS” REQUEST In this context, it has been reported that a 40 percent increase in phone prices is expected by the end of the year, and citizens, especially in the middle and lower income groups, have brought forward their purchasing schedules.

Mayor Turnacı also drew attention to the installment limit determined by the Banking Regulation and Supervision Agency (BDDK), which is valid for smartphone sales, and stated that this limit should be increased to 50 thousand liras. Stating that citizens have difficulty in purchasing smartphones due to the current regulation, Turnacı said that if the installment limit is expanded, consumers will be able to purchase smartphones more easily.