35% Hike In Mobile Phone Prices From Tomorrow In Sri Lanka?

12/31/2023 2:13:06 PM

(MENAFN- NewsIn) Dec 31 (AdaDerana) – The prices of all types of mobile phones will have to be increased from tomorrow (Jan. 01), says the Mobile Phone Sales and Dealers' Association.

Speaking at a press conference held today (Dec. 31), the chairman of the association Samith Senarath stated that accordingly, the price of a mobile phone will be increased by around 35% from tomorrow.

Subscribe to our Telegram channel for the latest updates from around the world

Commenting on the matter, Mr. Senarath further mentioned that this decision was taken due to the increase of the Value Added Tax (VAT) to 18%, which will come into effect tomorrow.

Moreover, he expressed that it is expected that there will be a decline of purchases by about 50% in the mobile phone market in line with this price hike.

Accordingly, a mobile phone worth Rs. 100,000 will be sold at a price of Rs. 135,000 from tomorrow, as per the Mobile Phone Sales and Dealers' Association.

For similar articles, join our Telegram channel for the latest updates. – click here

MENAFN31122023000191011043ID1107672399

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.