Business Hilights
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High-end smartphones most hit by recession as sales drop in Nigeria

Dealers in choice smartphones in major retail outlets are now worried on the geometric drop in sales in the last four months.

Checks by Business Hilights across key outlets and markets show drop in the sales of choice smartphones, especially those that are in the range of over N100,000 before the federal government pronounced the economy as in recession.

Additional findings also revealed that many buyers are now shifting demand attention to fairly used high society smartphones instead of new ones in packs.

At the Computer Village, Ikeja, Lagos, findings show that business is now brisk for sellers of fairly used celebrity phones due to their low cost and satisfaction.

In an interview with the Country General Manager of TECNO Mobile, Mr. Eason Duan, he said Nigerian economic recession has badly affected sales of mobile devices in the market.

According to him, “Whereas forex challenges and recession have pushed up the prices of high society and celebrity phones, their demands for have drastically decreased”.

“Before, our consumers normally will change their phones at least twice a year, but everything has changed now. Consumers now want more affordable phones.

“The economic recession has affected our sales, consumers now go for feature phones and smart phones between the range of N25,000 and N30,000.

“Nigerians are very resilient and I have no doubt that the country will soon move out of recession. Government should invest in infrastructure and also support the development of SME’s; these will lead to wealth creation for the country and then boost the economy.

According to him, Tecno has developed a blueprint of long term strategy in the market and in years to come, we will be implementing this strategy to sustain our market dominance.