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Nairaland Forum / Science/Technology / Phones / Will Lockdown Affect Prices Of Phones In Nigeria? (47036 Views)
Prices Of iPhone 16 In Nigeria / High Cost Of Phones In Nigeria / ### Xiaomi Thread For Tweaking Of Phones & Help Spot ### (2) (3) (4)
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Re: Will Lockdown Affect Prices Of Phones In Nigeria? by princechina(m): 5:17pm On May 06, 2020 |
swiz123:Redmi 8 that was 47-48k is now sold at 53-55k. |
Re: Will Lockdown Affect Prices Of Phones In Nigeria? by princechina(m): 5:21pm On May 06, 2020 |
Arizonaz: As of March 18th, it was 47900 |
Re: Will Lockdown Affect Prices Of Phones In Nigeria? by stainlink(m): 5:22pm On May 06, 2020 |
potbelly: When you sell you also need to restock. I bought the Samsung A71 for 138,000 and sold for 144,000. I went back to buy and the price is now 167,000, what is my profit or loss? It's business not excess profit Sir |
Re: Will Lockdown Affect Prices Of Phones In Nigeria? by tonididdy(m): 5:24pm On May 06, 2020 |
... And these prices will never return downwards ever again . Welcome to nAija |
Re: Will Lockdown Affect Prices Of Phones In Nigeria? by David160(m): 5:24pm On May 06, 2020 |
Provoker:yes o...I bought infinix hot 8 N52,000 |
Re: Will Lockdown Affect Prices Of Phones In Nigeria? by Kbs468(m): 5:31pm On May 06, 2020 |
seunlayi:yes oooooo. manage your phone and increase your Pocket see my signature below |
Re: Will Lockdown Affect Prices Of Phones In Nigeria? by potbelly(m): 5:36pm On May 06, 2020 |
True... stainlink: |
Re: Will Lockdown Affect Prices Of Phones In Nigeria? by Nobleking1994(m): 5:38pm On May 06, 2020 |
potbelly: You dont understand the logic. What was the prize of dollar then and prize of dollar now. 360 then and now 430 cant you see the difference in exchange rate. for instance a bale of joggers trouser of 2000 peices then will cost you around 3 to million 4 then for you to pay up your chinese producer but with the exhange rate now you must pay from 4 to 5 million to get your goods produced and shipped. So do you expect me to pay 4 to 5 million now to get my goods produced and still sell the old prize. It is certain after the lockdown prizes will reduce and i will be at a loss.which is as a result of the payment i made now. |
Re: Will Lockdown Affect Prices Of Phones In Nigeria? by Provoker(m): 5:41pm On May 06, 2020 |
ㅤ |
Re: Will Lockdown Affect Prices Of Phones In Nigeria? by Nobody: 5:45pm On May 06, 2020 |
I wanted changing my current phone which will be a year by July. But the way it is now, getting a new phone will be hopefully next year. |
Re: Will Lockdown Affect Prices Of Phones In Nigeria? by potbelly(m): 5:47pm On May 06, 2020 |
Bros... the prices were increased for old stocks which where most likely imported before the lockdown... I believe no importation was done during the lockdown... Nobleking1994: |
Re: Will Lockdown Affect Prices Of Phones In Nigeria? by okenwaa(m): 6:00pm On May 06, 2020 |
Provoker: Location? |
Re: Will Lockdown Affect Prices Of Phones In Nigeria? by Dollabiz: 6:01pm On May 06, 2020 |
Everything went up already |
Re: Will Lockdown Affect Prices Of Phones In Nigeria? by mechanics(m): 6:02pm On May 06, 2020 |
It won't increase. |
Re: Will Lockdown Affect Prices Of Phones In Nigeria? by afroxyz: 6:13pm On May 06, 2020 |
See wetin this one dey ask. And a mod sat down, pondered on the usefulness of this topic and decided to move it to the front page. |
Re: Will Lockdown Affect Prices Of Phones In Nigeria? by tobijas001(m): 6:20pm On May 06, 2020 |
Dollar is @ 385 our naira, so u should be expecting increase in price of gadgets |
Re: Will Lockdown Affect Prices Of Phones In Nigeria? by Truthbites: 6:25pm On May 06, 2020 |
It will. The world is not producing anything, anymore |
Re: Will Lockdown Affect Prices Of Phones In Nigeria? by emmy9500: 6:28pm On May 06, 2020 |
tobijas001: Where do you get dollar at this rate because my bank is already charging me 415 |
Re: Will Lockdown Affect Prices Of Phones In Nigeria? by FGonline: 6:29pm On May 06, 2020 |
dancok:very true But scarcity will hit it with time,xpt if cure comes 1 Like |
Re: Will Lockdown Affect Prices Of Phones In Nigeria? by Arizonaz: 6:36pm On May 06, 2020 |
micxwell: I couldn't wait again because I was using a 3G phone and it was frustrating. But I am very happy with what I bought not minding the cost. Redmi is the bomb now. 1 Like |
Re: Will Lockdown Affect Prices Of Phones In Nigeria? by adetes: 6:51pm On May 06, 2020 |
Already affected |
Re: Will Lockdown Affect Prices Of Phones In Nigeria? by Nuzo1(m): 7:03pm On May 06, 2020 |
Four factors caused the price hike. 1. Exchange rates: The exchange rate for dollar against naira went up by 25%. No dollars for phones importers for now. And maybe for a long time. 2. Importation by air was halted: Most phones come through air transportation. And as you know, air travel has been in ban for close to 2 months now. 3. Countries like USA, China and South Korea who manufacture most of the phones we use are also mostly on lock down too. Workers are being downsized, companies running bankrupt, shutting down or relocating. 4. For those sellers who have a few goods remaining, you don't expect them to sell goods they bought when dollar was 365naira. Dollar is pushing 500naira now at the black market. If you dare sell at the old price, you may have to borrow money to complete your capital for that same phone you sold for less. Except the FG does some serious economic miracle, it will be a dog eat dog in the coming months. 1 Like |
Re: Will Lockdown Affect Prices Of Phones In Nigeria? by Nobleking1994(m): 7:22pm On May 06, 2020 |
potbelly: I cant sell the old price while prizes has already increased. What is the purpose selling the old prize while cant buy a new one at the old prize. Do you know that some goods are paid for now with the current exchange rate of dollar. |
Re: Will Lockdown Affect Prices Of Phones In Nigeria? by bedoab10k(m): 7:27pm On May 06, 2020 |
I was at Slot today at Ikeja to get phones for my niece and nephew, got two(2) Infinix Hot 8 4GLTE 3G ram and 32G each at 53,500. The phone was 42K before the lockdown. Infinix Hot 8 4GLTE 3G Ram now go for 49,500 which i got in Jan for 37,000.
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Re: Will Lockdown Affect Prices Of Phones In Nigeria? by Carlyboi(m): 7:29pm On May 06, 2020 |
Leave them...they don’t need to be told before they reduce the price if I plan on gettin a phone and they’re been priced ridiculously then I simply setback when they start struggling to make sales they won’t be told before they revert the prices!Bomboclats! |
Re: Will Lockdown Affect Prices Of Phones In Nigeria? by alizma: 7:58pm On May 06, 2020 |
potbelly:Unfortunately you are wrong. 1) the phone dealers didn't make profit but lost. 2) there were few consignment that came in during the earlier stage of thea lockdown 3) Covid-19 is not the major reason why prices of phone go up but the fall in the value of our currency again the dollar which is their trading currency 4) they didn't increase the price to make game but they increase the price to retain their capital. For example if I buy hot 8 for $50 as at the time naira to dollar rate was #360 to $1, that is 50*360=18,000. Let say my profit is 500, that makes my selling price to be 18,500. If I am in able to sell the stock before the lock down and unfortunately, naira to dollar is now #450 to $1, I need to sell the phone at an amount that will enable me buy the same phone from China at the same $50. That means 50*450=22,500. Remember I need to add my profit of 500, that is 22,500+500=23000. With this I can take my 500profit and still have 22,500 to enable me buy $50 that I need to buy hot8 from China. 1 Like |
Re: Will Lockdown Affect Prices Of Phones In Nigeria? by alizma: 7:59pm On May 06, 2020 |
bedoab10k:It is not the lockdown, it is the function of change in dollar rate 1 Like |
Re: Will Lockdown Affect Prices Of Phones In Nigeria? by micxwell(m): 8:00pm On May 06, 2020 |
Arizonaz:That's the spirit. Enjoy your device bro. |
Re: Will Lockdown Affect Prices Of Phones In Nigeria? by micxwell(m): 8:03pm On May 06, 2020 |
alizma:Spot on.. |
Re: Will Lockdown Affect Prices Of Phones In Nigeria? by oldman112(m): 8:13pm On May 06, 2020 |
potbelly: Many lost their phones to rooters. |
Re: Will Lockdown Affect Prices Of Phones In Nigeria? by engrfemi(m): 8:14pm On May 06, 2020 |
Omotosho2580:location? Price? |
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