In 2023, the average cost of smartphones, tablets and laptops increased by 10–15%
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In 2023, the average cost of smartphones, tablets and laptops increased by 10–15%, retailers and distributors of electronics told Kommersant. Apple smartphones have increased in price the most – by 37%. Prices were affected by the volatility of exchange rates, the increase in the key rate of the Central Bank, as well as problems with logistics in the Red Sea due to shelling by the Houthis on commercial ships. Distributors believe that the continuation of the conflict in the Red Sea will aggravate the increase in logistics costs and, as a result, final prices for consumers.
During 2023, the average cost of consumer electronics in Russia increased in almost all segments by 10–15%, a market interlocutor told Kommersant, citing GfK data. Thus, according to him, prices for laptops with a diagonal of 12–17 inches increased by 13%, to 61 thousand rubles, more than 17 inches – by 12.5%, to 87 thousand rubles. The average cost of tablets increased by 9%, to 16.5 thousand rubles, smartphones – by 10-18%. Apple smartphones have risen in price the most – by 37% year-on-year, to an average of 100 thousand rubles.
According to a Kommersant source, a total of 2.6 million smartphones were sold in the Russian Federation from January 2023 to January 2024, which is 13% more year-on-year. In monetary terms, sales increased by 33%, to 66 billion rubles. Sales of laptops from December 2022 to December 2023 inclusive increased by 12%, to 3.6 million devices. In monetary terms, this figure increased by 11%, to 220 billion rubles. Sales of tablets in 2023 for the first time in three years grew by 32% in units (2.4 million devices) and by 30% in money (49.8 billion rubles) (see “Kommersant” dated January 15, 2024).
The main parameters influencing the pricing of tablets, smartphones and electronics in general were the key rate of the Central Bank and exchange rates, says Andrey Malyutin, head of the Telecom department at diHouse: “During 2023, the ruble exchange rate against popular currencies increased by about 20%. At the same time, last summer the Central Bank’s key rate was increased and eventually reached 16% from 7.5%.
The increase in prices for consumer devices is confirmed by the director of the personal systems department of OCS Distribution, Alexander Loginov. Among the reasons, he also names disruptions in international logistics: “The situation in the Red Sea increases the risks associated with transporting devices for which the consumer ultimately pays. Most likely, the upward trend in prices will continue in 2024.”
In December 2023, due to shelling of merchant ships by the Houthis, major trading companies began to announce the suspension of their routes in the Red Sea. Four of the five companies that announced a halt in deliveries account for 54% of the total container capacity (see Kommersant, December 18, 2023). In February, the Financial Times reported that the shelling was causing container lines to become congested at ports, with shipments bypassing the Red Sea taking two weeks longer.
In the smartphone category, rising prices are shifting consumer demand towards more affordable Chinese devices. MTS says that in 2023, sales of smartphones worth up to 10 thousand rubles increased 1.6 times: this is due to the expansion of the model range of Chinese brands in the affordable segment. “The situation is similar in the tablet category,” MTS clarified. The growth in sales of cheap devices is due to the expansion of the model range in the affordable segment, not only by Chinese, but also by Russian brands, the company added.
Mr. Loginov notes that Russians have also begun to pay attention to “alternative Linux-like operating systems” that can reduce the cost of the end device. Fplus business analyst Arthur Makhlayuk emphasized that some tablet manufacturers sell their devices without an OS at all to reduce prices, while the Chinese Huawei system is actively developing on the market.
Mr. Makhlayuk believes that in 2024 a sharp increase in the cost of devices should not be expected, since “the ruble exchange rate is stable.” However, the analyst admits that logistical problems in the Red Sea could lengthen supply routes, which ultimately “will have a negative impact on the final cost of the devices.”
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