Iranian Traders Stopped Imports of Luxury Mobile Phones

Iranian Traders Stopped Imports of Luxury Mobile Phones

The current exchange rate volatility has affected Iran’s technology markets too. Accordingly Iranian traders stopped imports of luxury mobile phones since the rates of foreign currencies may go up or down and it will be a dangerous risk for certified traders to import such goods.

Ali Kabirvand, an activist of Iran’s cell phones market, believes the continuous changing of foreign exchange rates in Iran has direct effects on imports of mobile phones. He reiterated that even non-certified traders and traffickers refuse to smuggle luxury phones to Iran because it’s too risky for them at the current conditions. Another analyst said sellers and traders prefer to import and distribute only cheap mobile phones.

Also Iranian customers tend to buy cheaper gadgets, tablets and cell phones since Iranian Rial has lost its value against foreign currencies and accordingly the prices of digital devices have been increased dramatically. It’s good to know that average income of Iranians have not been changed but the inflation rate and exchange rate volatility worsening the situations for Iranian nationals.

The technology market in this country is suffering badly from U.S. sanctions on Iran’s economy.

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