Buyers can now expect steep discounts and multiple offers on smartphone prices this upcoming festive season. This is as a result of brands seeking to clear up inventories before ushering in a new year.
The recent global rise in inflation and sluggish demand has put pressure on OEMs to liquidate excess inventories brought about by a weak first half of the year. Plus, with the introduction of new device models, there is an oversupply of smartphones that the existing market cannot handle.
Offline retailers have already confirmed an inventory build-up and are being urged by certain brands to increase margins and offer discounts on products. One such brand is Samsung which was recently reported to be stuck with 50 million devices in distribution.
Smartphone makers will now be looking to bounce back in the second half of the year hoping to garner at least more than half of their expected sales targets.
It’s a silver lining amid the high-priced times we are living in. Likewise, if there is a smartphone on your mind that doesn’t seem quite affordable right now, you could consider checking it out in a couple of months to get it at the right price.
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Alfred Gitonga is a passionate tech news writer with a deep interest in smartphones and related technologies. He is a staff writer at Mobitrends.co.ke.
