Mobile phone markets across the country such as Lahore and Faisalabad witnessed drastic price cuts, sending shock waves through the city’s tech-savvy population.
Reports have shown that cell phone prices have dropped by 20-40 percent, changing the face of consumer electronics in the provincial capital.
According to market sources, the flagship smartphone that was previously priced at $100,000 is now available to the public at prices ranging from $65,000 to $70,000.
Similarly, a mid-range device that was previously priced at $64,000 is now available for less than $50,000, indicating a significant change in affordability for Lahore’s gadget enthusiasts.
More surprisingly, smartphones costing $50,000 can now be sold for under $35,000 to $38,000, showing the democratization of high-tech devices in the local market.
Entry-level mobile phones, once considered a luxury for many, are now affordable at $20,000, opening the door to connectivity for a wider segment.
Notably, the sharp drop in cell phone prices has come at a time when cell phone imports have been on the rise, rising by 121 percent in the first three quarters of this fiscal year. Analysts speculate how consumer behavior in Pakistan will affect the future as imports rise and prices fall.
The impact of this price revolution continues to play an important role not only in the economy, but also in the digital revolution happening around the world. Recognized as one of the fastest growing markets in the telecommunications sector, Pakistan is now at the forefront of this wave of change.
