Here’s how smartphone companies across all segments were affected by demonetization
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Cash is a dominant mode of transaction in the devices market and the government's decision to demonetize the high-value currency which accounts for more than two-third of the cash supply is having an immediate but temporary impact on the devices market, according to
Starting with the low to mid range phones where the market is ruled by Chinese smartphone makers like
High to premium range phones has not seen much of an impact as they are mostly dependent on online payment methods. The segment itself attracts consumers who are already using non cash payment methods for all purposes. One such brand that has not seen much impact of demonetization on the sale of its smartphones is Oneplus, this Chinese smartphone maker has made a place for itself in the high range segments with phones costing over Rs. 25,000. Vikas Agarwal, General Manager – India for
Now if we look at the premium phones, Apple’s iPhone7 and iPhone7 Plus are the most expensive phones in the country today priced at upwards of Rs. 60,000. Government’s move to demonetize Rs. 500 and Rs. 1000 currency notes somehow provided a much needed helping hand to
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