swiz123:
I fear it already has.
I don't know why slot is selling redmi note 8 64gb variant N72,500

Redmi 8 that was 47-48k is now sold at 53-55k.

Arizonaz:
Yes o

I bought this Redmi last week @58k. Initially it was sold@51k as of April 12 . Now is about #61k

As of March 18th, it was 47900

potbelly:
OP... I will advise you hold on a bit cos prices of phone have gone rooftop...

I dont understand why cos since lockdown was in effect I want to believe no phone was imported during that period... unless they are saying underground importation was going on...

Then again... this phones i want to believe are old stock which they must have had before the lockdown... but since no sales they increased prices to try and regain as much profit as possible to the detriment of the buyer...

Na them sabi sha...

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

... And these prices will never return downwards ever again .
Welcome to nAija

Provoker:
Hi, I really need to know if the prices of phones will increase or decrease after this lockdown.

I intend to get a new phone

yes o...I bought infinix hot 8 N52,000

seunlayi:
Just manage your current phone

yes oooooo. manage your phone and increase your Pocket

see my signature below

True...

stainlink:


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

potbelly:
OP... I will advise you hold on a bit cos prices of phone have gone rooftop...

I dont understand why cos since lockdown was in effect I want to believe no phone was imported during that period... unless they are saying underground importation was going on...

Then again... this phones i want to believe are old stock which they must have had before the lockdown... but since no sales they increased prices to try and regain as much profit as possible to the detriment of the buyer...

Na them sabi sha...

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.

ㅤ

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.

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:


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.

Provoker:
Samsung a70 boss

Location?

Everything went up already

It won't increase.

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.

Dollar is @ 385 our naira, so u should be expecting increase in price of gadgets

It will. The world is not producing anything, anymore

tobijas001:
Dollar is @ 385 our naira, so u should be expecting increase in price of gadgets

Where do you get dollar at this rate because my bank is already charging me 415

dancok:
leave that clothes,who cares, clothes seller have little or no patronage now,na food sure pass.

very true

But scarcity will hit it with time,xpt if cure comes

micxwell:

Why didn't you calm down na. I actually bought a Redmi Note 7 4/64GB at 55k just yesterday on Nairaland here. . Lucky me

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.

Already affected

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.

potbelly:
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...

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.

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.

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!

potbelly:
OP... I will advise you hold on a bit cos prices of phone have gone rooftop...

I dont understand why cos since lockdown was in effect I want to believe no phone was imported during that period... unless they are saying underground importation was going on...

Then again... this phones i want to believe are old stock which they must have had before the lockdown... but since no sales they increased prices to try and regain as much profit as possible to the detriment of the buyer...

Na them sabi sha...

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.

bedoab10k:
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.

It is not the lockdown, it is the function of change in dollar rate

Arizonaz:


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.

That's the spirit. Enjoy your device bro.

alizma:

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.

Spot on..

potbelly:
OP... I will advise you hold on a bit cos prices of phone have gone rooftop...

I dont understand why cos since lockdown was in effect I want to believe no phone was imported during that period... unless they are saying underground importation was going on...

Then again... this phones i want to believe are old stock which they must have had before the lockdown... but since no sales they increased prices to try and regain as much profit as possible to the detriment of the buyer...

Na them sabi sha...

Many lost their phones to rooters.

Omotosho2580:
Hi, I really need to know if the prices of phones will increase or decrease after this lockdown.

I intend to get a new phone

Samsung a20s for sell, just bought it last month

location? Price?