Mr. Samith Senarath, Chairman of the Mobile Phone Dealers Association, says that mobile phone prices will increase by 35% from today. Sri Lanka Latest News
The main reason for the price increase is the 18% VAT that will come into force on mobile phones from tomorrow. A spokesman also says that it is expected that the sale of mobile phones will decrease by about 50% compared to the price increase.
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.
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.