Budget 2024: Prices of mobile phones may fall, with proposed duty cuts

The government has proposed to reduce basic customs duty on mobile phones, printed circuit board assembly for mobile phones, and mobile phone chargers to 15%, along with exempting duties on critical minerals required for making components in the union budget for FY 2025. As a result, prices of mobile phones which are imported as completely built units, are likely to get cheaper by just a bit, say experts.

“Prices of premium mobile phones may see a reduction by 1-2% with the duty cuts, while budget phone prices may remain unchanged. It will be up to the smartphone brands to pass on any cost benefits achieved to the end consumer,” said Tarun Pathak, research director, Counterpoint Research.