Introduction: There may be good news in the near future for Indians thinking about upgrading or buying smartphones. According to recent sources, shops may lower the price of 4G smartphones before the end of 2023 in order to get rid of their current inventory. Between 10 and 20 percent is the predicted price decrease, which translates to savings for consumers of up to Rs 2,000.
Reasons for the Price Drop: Shops looking to clear out their inventory before the end of the year are the ones driving the drop in 4G smartphone costs. The value proposition of 4G phones is still strong in spite of the country’s extensive adoption of 5G networks, especially in light of the difference in cost and the few use cases that 5G currently has. Analysts point out that retailers stocked up on 4G phones in anticipation of the holiday season’s increased demand. Nonetheless, 5G phones accounted for a higher portion of sales between August and October.
Market dynamics and consumer choices: Rather than letting their inventory of 4G phones sit in storage, merchants are more likely to offer them at a discount in order to avoid the hassles of storing unsold handsets. The cost of 5G phones has discouraged entry-level purchasers, even with the launch of 5G services in October of last year and the network’s following explosive growth. As a result, customers could choose the less expensive 4G choices, which start at less than Rs 10,000.
Possibilities for companies and Retailers: It has been reported that retailers are negotiating with companies for larger margins in order to enable the sale of 4G phones, which is advantageous for all parties.
While there is ongoing discussion over whether it makes sense to purchase a 4G phone in the context of 5G, experts stress that, considering the relatively small speed disparities between 4G and 5G data throughout the majority of the nation, going with a 4G smartphone is still a prudent decision.
In summary, the possibility of a decrease in 4G smartphone pricing in India by the end of 2023 is a favorable opportunity for consumers to explore affordable solutions that will help close the affordability gap and take into account the changing needs of the smartphone market.