In a press conference held today (Dec. 31), the chairman of the Mobile Phone Sales and Dealers’ Association, Samith Senarath, announced a significant increase in the prices of all mobile phones, effective tomorrow (Jan. 01).
Senarath disclosed that the decision to raise prices by approximately 35% stems from the impending rise in the Value Added Tax (VAT) to 18%, scheduled to take effect on the first day of the new year.
"This move is a direct response to the VAT hike, and unfortunately, consumers will witness a considerable surge in mobile phone prices," stated Senarath during the press briefing.
Anticipating a substantial impact on consumer behavior, Senarath highlighted the association's projection of a 50% decline in mobile phone purchases following the price adjustment.
To illustrate the financial implications, Senarath provided an example, stating that a mobile phone valued at Rs. 100,000 will now be priced at Rs. 135,000 starting tomorrow.
Consumers are urged to take note of these changes and plan their purchases accordingly as the mobile phone market braces for a notable transformation with the implementation of the increased VAT.
