Nokia anticipates 15% rise in mobile handsets (India)
Nokia, which leads the chart of top mobile handset maker, said, it is looking at the possibility of hiking the prices of its products globally given the rising input costs even, as it launched low-cost phones for emerging markets. Nokia Vice-President and Managing Director (Markets) D Shivakumar, said, “We are looking at the issue of price hikes. The increase will be globally.” He refuses to comment on the timeframe that the price hike will take.
It is anticipated that handset prices will increase by as much as 15% post Diwali. Almost 60% of the component is imported from China and Taiwan and the yuan taking a hit against the dollar, the handset makers have been left with fewer options. Indian handset market is 10 Mn phones a month and is growing at a fast pace. As developed markets are reaching the saturation point so Nokia is heading towards emerging markets.
