Finance Minister Arun Jaitley today has presented the Union Budget 2018.According to the budget, the custom duty on mobiles phones has increased. This turned to increase in smartphones prices.
Increasing the custom duty on mobiles phones, it means there is increase in all the prices of all the materials required to assemble the mobile phone.
The smartphones mostly imported from China, Taiwan and some other countries, are going to be affected by this price hike. However the Smartphone companies situated in India itself will be getting tax return benefit.
So Indian smartphones company lovers, need not to worry about the hike in custom duty.
However the Smartphone companies like, Samsung, Oppo, Vivo, Apple are going to affect badly due to price hike. Now the challenge in front of them will be launching a budget Smartphone.
In this increased price segment, how these companies will launch a budget segment smartphones and Export it to India.
Budget 2018: Opportunity for Indian Smartphone companies:
As these companies manufacture all the mobile components in India itself, so they have a great relief in custom duty.
If they try to offer a good Smartphone under this price hike, their market value may increase.
The new Budget will be implemented from 1st April 2018. Till then we might see a large discounts on smartphones.
So you have flagged on your favorite Smartphone, and not bought yet. Then this is a right to make a move. As this budget will be in effect from 1 April 2018. So till then you can observe big discounts on remaining smartphones stock.
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