Following in the footsteps of Xiaomi and Apple, South Korean consumer electronics company, Samsung, has raised the prices of its smartphones in India to counter the GST rate hike announced by the Indian government. According to reports, the price hike will be applicable to the company’s Galaxy S-series and M-series smartphones from today.
As part of the plan, prices of the flagship Galaxy S20 series have been increased by up to Rs 5,000. While the standard S20 is now listed on the official Samsung India webstore for Rs. 70,500 instead of the launch price of Rs. 66,999, prices of the S20+ and S20 Ultra now start at Rs. 77,900 and Rs. 97,900, respectively. Prices of its recently-launched Galaxy M21 and Galaxy M31 have also been increased, albeit, by smaller margins.
Meanwhile, Realme has also increased its prices, even though earlier reports suggested that the company planned to absorb the new GST cost and not increase the prices of its existing smartphones.
The price hikes were pretty much expected after the GST Council, headed by Finance Minister, Nirmala Sitharaman, increased taxes on smartphones from 12 percent to 18 percent in a move that the India Cellular and Electronics Association (ICEA) slammed for potentially hurting the smartphone sector in the country, especially at a time when the coronavirus pandemic is already proving to be a massive economic burden for both consumers and businesses.