As per an industry source, Samsung Electronics, one of the globe's foremost manufacturers of cellular phones, is all set to lift the rates of its feature phones from tomorrow.
The declining of Indian currency versus the US dollar has made it hard for Samsung Electronics to market cellular phones at the similar price.
At present, the Indian unit stood at the lowest rate with one US dollar being priced at Rs.55.54.
Speaking on condition of secrecy, a source in the company stated that the Samsung feature phone prices may increase from Sunday across online and offline.
“The main cause is the adversely changing US Dollar-Rupee rate. The hike is expected to be roughly around 5%," the source added.
When questioned if this is going to take place at all retailers crosswise the country, the source responded that the supply rate has augmented from the company (at least for all Delhi-NCR based distributors), so it has to accompany at all regions.
Feature phones are the primary products of cell phone manufacturers and these phones are extremely popular with budget customers of India.
It is conjectured that the income margins are low in this profitable section, actuating the Korean firm to take this step.
It will not be a shocking report if other makers follow suit.
The onset of festive season brings a slew of discounts and sales across several e-commerc...