Samsung and Huawei prices increase by 11.1%

Samsung and Huawei have both raised their mobile phone and tablet prices for the second half of 2016, which have been driven up by the appreciating price of the US dollar against the national currency.

Price lists obtained by Daily News Egypt showed the prices of Samsung increasing by 8-11.1% for basic phones and smartphones, as well as tablets and smartwatches.

Huawei smartphones and tablets also rose by 10-11% over the second half of the year.

The new price list given by Samsung to its distributors showed the price increase of the smartphone Galaxy S7 Edge LTE 32 GB from EGP 9,450 to EGP 10,435. The price of its Eider Torch rose from EGP 220 to EGP 245.

The Samsung tablet Galaxy View LTE 32 GB increased to EGP 7,499 from EGP 6,850, and the Gear S2 Sport/BT smartwatch was listed at EGP 3,999.

As for Huawei’s new price list, it stated that the price of the P9 Plus increased from EGP 6,805 to EGP 7,560, while that of Y3C rose from EGP 845 to EGP 935. Mate 8 High End also registered an hike from EGP 5,920 to EGP 6,570.

Samsung had previously raised its prices of mobile phones, tablets, and smartwatches during the first quarter of this year by 6-9.8%.

Egypt has been suffering a severe drought of US dollar flow since last year. The government and the Central Bank of Egypt (CBE) took several decisions limiting imports and adjusting customs rules. They also devaluated the pound in the official market—the highest move of this kind took place in March by 14%—in a bid to stabilise the unofficial rate of the dollar.

However, all attempts were fruitless. The price of the American currency ceased to stop rising against the pound on the parallel market—recording a new high of EGP 12.75 for buying and EGP 12.90 for selling.

Source: Daily News Egypt