Electronic goods’ prices soar over last month

HCM CITY — The prices of mobile phones, computers, and electronic appliances have risen by 5-20 per cent in the last month, breaking a long-established downward trend, with dealers attributing it to the strengthening dollar.
According to the dealers, for a long time now, the prices of these products have been dropping by 3-5 per cent every month, tracking what is very much a global trend.
But in the last month mobile phone rates have risen sharply. Nokia phones have become 6 to 15 per cent more expensive. The Nokia 5310 has gone up from VND3.77 million to VND4.06 million.
Dinh Anh Huan, marketing director of retailer Mobile World Centre, said his shop has increased phone prices by 4-5 per cent, but needs to effect a further hike now.
Sales have dipped as well as import of mobile phones.
But the personal computer market has posted steady growth, with 357,000 units sold in the first quarter, a 21 per cent increase over the same period last year.
Nguyen Thi My Phuong, an analyst, said most PC prices have risen 5-10 per cent but sales have continued to grow because of growing demand from domestic and foreign businesses as well as individuals.
Laptop imports rose 64 per cent year-on-year in the first quarter, he added.
Other electronic products too have become 5-10 per cent costlier. Some household appliances like rice cookers, electric stoves, and irons are up 20 per cent.
Electronics manufacturers said the prices of televisions, video players, refrigerators, and washing machines are expected to go up at least 10 per cent this month.
Dollar, tax up
While most insiders blamed the appreciation in the dollar for the higher prices, they said the increase in import tax has also contributed to the mobile phone price hike.
The dollar rose suddenly from VND16,200 to VND19,500 on the black market in a matter of few days last month. Many banks refused to sell dollar to importers of non-essential commodities like mobile phones, meaning the importers had to buy on the unofficial market.
The Ministry of Finance, meanwhile, increased the tariff on mobile phones from 0-5 per cent to 8 per cent on June 20.
Though in the last week or two the State Bank of Viet Nam has cracked down on violators, forcing banks to sell dollars at the official rate, mobile phone retailers have not reduced prices. — VNS