As the cost of living in Sri Lanka continues to increase, so does the price of mobile phones. In recent months, the price of smartphones has more than doubled or increased. This is largely due to the dollar rate and the import taxes levied on mobile phones by the Sri Lankan government.
Sri Lanka’s economic crisis was started when devastating Easter attacks that killed more than 250 people and injured hundreds more. Then, by 2019, the country’s economy was dealt a major blow when COVID-19 pandemic hit the nation.
As of July 2019, the dollar rate in Sri Lanka was around Rs. 180.50. The value of the dollar has been on a steady decline since early 2019, and this has caused the Sri Lankan rupee to appreciate in value against the dollar. The current dollar rate in Sri Lanka is the lowest it has been in over two years.
The decline in the value of the dollar has been attributed to a number of factors, including the goods price, banning on non-essential imports, etc. As per experts view, the current dollar rate in Sri Lanka is likely to continue to decline in the near future. Therefore, phone price would go up.
The economic crisis in Sri Lanka has caused the cost of mobile phone to skyrocket. The high cost of living in Sri Lanka has also made it difficult for people to afford new phones. As a result, many people are forced to use old, outdated models or used phones that are not compatible with the latest applications and services.
The high cost of living in Sri Lanka is a major problem for many people, and made it difficult for many people to afford a mobile phone. This is especially true for entry-level smartphones, and flagship phones, which are now out of reach for many Sri Lankans.
All phone shops increased the price and it would come back to normal when dollar rate crisis over. However, it has not taken any concrete steps to reduce the price of mobile phones.