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Massive drop in mobile phone prices in Pakistan

05:09 PM | 12 May, 2024
Mobile phone price

In a significant development reshaping the consumer electronics landscape, mobile phone prices in Pakistan have plummeted, triggering a wave of excitement among tech enthusiasts. The decline, ranging from 20 to 40 percent, has sent shockwaves through mobile phone markets across the country, including Lahore and Faisalabad.

Flagship smartphones, once considered luxury items with price tags exceeding Rs100,000, have now become more accessible to the masses, with prices ranging from Rs65,000 to Rs70,000. Similarly, mid-range devices that were previously valued at Rs64,000 are now available for less than Rs50,000, marking a substantial shift in affordability for gadget aficionados in Lahore.

Even more strikingly, smartphones priced at Rs50,000 are now attainable for as low as Rs35,000 to Rs38,000, indicating a democratization of high-tech gadgets within the local market. Entry-level mobile phones, once out of reach for many, are now priced at a more accessible Rs20,000, opening doors to connectivity for a broader segment of the population.

This dramatic reduction in mobile phone prices coincides with a surge in mobile phone imports, with a remarkable 121 percent increase observed in the first three quarters of the current fiscal year. Analysts are intrigued by this comparison of increased imports and decreased prices, speculating on its potential implications for consumer behavior in Pakistan.

Beyond its economic implications, the pricing revolution in mobile phones holds broader significance, as mobile devices continue to drive the ongoing digital revolution globally. Pakistan recognized as one of the fastest-growing markets in the telecom sector, now finds itself at the forefront of this transformative wave, with increased accessibility likely to accelerate digital inclusion and innovation across the country.

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Currency Rates Today - Pakistani Rupee to US Dollar, Euro, Pound, Dirham, Riyal - 22 July 2024

Pakistani rupee rates against US Dollar and other currencies on July 22, 2024 (Monday) in open market.

USD to PKR Rate Today

US dollar was being quoted at 279.15 for buying and 280.85 for selling. Euro's buying rate remains stable at 301.25 and selling rate is 303.25.

British Pound rate is 354.75 for buying, and 358.25 for selling. UAE Dirham AED was at 76.4 and Saudi Riyal lowered to 73.60.

Currency Rates Today

Currency Symbol Buying Selling
US Dollar USD 279.15 280.85
Euro EUR 301.25 303.25
UK Pound Sterling GBP 354.75 358.25
U.A.E Dirham AED 76.40 77.15
Saudi Riyal SAR 73.60 74.32
Australian Dollar AUD 184.75 186.55
Bahrain Dinar BHD 741.15 749.15
Canadian Dollar CAD 203.50 205.50
China Yuan CNY 38.35 38.75
Danish Krone DKK 40.05 40.45
Hong Kong Dollar HKD 35.70 36.05
Indian Rupee INR 36.05 36.05
Japanese Yen JPY 1.91 1.99
Kuwaiti Dinar KWD 908.25 917.35
Malaysian Ringgit MYR 58.95 59.75
New Zealand Dollar NZD 169.24 171.24
Norwegians Krone NOK 26.04 26.34
Omani Riyal OMR 722.87 730.89
Qatari Riyal QAR 76.39 77.09
Singapore Dollar SGD 202.00 204.00
Swedish Korona SEK 26.40 26.70
Swiss Franc CHF 309.05 311.55
Thai Bhat THB 7.50 7.65

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