The weakening of the Chinese currency could lead to higher prices for smartphones
The Chinese Renminbi over the past year dropped from 6.5 to almost 7 yuan per 1 us dollar. A further weakening of the Chinese currency could lead to higher prices for smartphones, as reported by the publication Mydrivers.
Even in smartphones that are manufactured in China, imported components are used. For chips, memory, cameras, displays and other components, which are imported into the country, calculated in U.S. dollars. The appreciation of the dollar will lead to the fact that manufacturers will have to pay in yuan more than before.
The main smartphone manufacturers in China has already warned customers that in the next year the price for their products will grow.
Trying to smooth over the situation, Chinese companies are increasing their focus on more lucrative markets of the US and Europe and India.