12:14 PM
Thursday 27 October 2022
A few hours after the price of the dollar rose and exceeded 22.50 pounds, the smartphone market was completely paralyzed, and most stores stopped selling operations in anticipation of what would happen in the coming days.
The Egyptian market mainly suffers from a severe shortage of new smart phones, with the exception of some models from Samsung, Xiaomi and iPhone, while the supply of Realme, Oppo and Vivo products has decreased, although the latter manufactures its phones in Egypt.
A source from the owners of mobile shops told Masrawy that he cannot complete the sales, because the return and the profit may not be enough to buy products at the new prices of the dollar.
The source, who asked not to be named, added that the market is heading for a complete recession, in the absence of new products and the rise in dollar prices.
He warned that the market may come on the day when the balance of stores becomes zero.
In a surprising move, electronic stores raised some phone prices with values ranging between 150 and 500 pounds.