Recently the Indian government made a very shocking decision by banning the 500 & 1000 currency notes without any prior notice, just to fight corruption but this decision will have severe consequences in future for electronic’s such as smartphones.
Now the Indian population is going through a lot of trouble and for those who has huge cash with them have to deposit all the money and people are standing in long queues, waiting for long hours to withdraw and deposit the new and old currency. Due to this shocking decisions, all the businesses are cold, and markets are getting slower day by day.
Even after all the odds, there will be some severe damage to the Indian electronic market as well as other businesses. Especially there will be a huge drop in sales irrelevant of any business. And speaking of sales there is only 1 thing that will be affected by this the sales of electronics gadgets like smartphones.
With that being said there will be a big change in the sales and the price of smartphones. For example, if you get a smartphone for Rs. 5000 now with mandatory features then there is no doubt that from the Q2 of 2017 you can get the same device for only s. 3000 or less with the same features. This will increase the chances of the market from rate and indeed it is good for the customers.
Elections always bring some electronic gadgets for free to all. For example In the 2012 UP elections a Samajwadi Party distributed free laptop policy for undergraduates and when the reports found out that they actually did distribute for free and in a way, this will happen again because with the fall of prices of smartphones the parties will choose smartphones over laptops as everything is possible with a smartphone that can be done with laptop.
A chance for all the Indian smartphone start-up ideas that can turn into reality and Indian manufacturers will finally be able to stand against the Chinese companies. And all the other businesses that do not have a chance in India will stay off from this category due to logistical costs.