Prices of Mobile Phone Accessories Surge Due to Cedi Depreciation

Customers looking to purchase mobile phone accessories need to sharpen their bargaining skills as prices for these items have surged due to the depreciation of the Cedi.

From phone covers and chargers to earpieces, the costs have risen dramatically. Dealers warn that the Cedi’s depreciation is significantly impacting the importation of mobile phone accessories.

Several phone dealers, who spoke to Citi Business News on condition of anonymity, revealed that they now need to inject more capital to import these products from London and China. They reported that wholesale prices for items like chargers, cords, screen protectors, and earpieces have jumped from between GHȼ5 and GHȼ15 to over GHȼ20, forcing them to raise their prices accordingly.

Previously, protecting a mobile device with a phone cover case and screen protector might have cost around GHȼ50. However, that’s no longer the case. Chimezie Jovita, a mobile phone accessories dealer for over five years, explained that the business has become so challenging that maintaining old prices is no longer feasible.

"Customers often complain," Jovita said. "Last year, I gave them certain prices, but this year the prices have changed. They compare them with last year’s, but I explain that sometimes prices change due to the increased costs from our suppliers."

Jovita added, "I have GHȼ40 and GHȼ50 options. If a customer is loyal, I might give it to them for GHȼ30 to keep their business. Last year, we sold chargers for GHȼ40, but now we sell them for GHȼ50 due to the increased costs from where we buy them."

This price surge isn't confined to phone covers and screen protectors. Mobile phone chargers and earpieces have also seen significant price hikes. Uche Peter, another phone accessories dealer, expressed concern over this trend, noting that customers frequently bargain, which often cuts into their profits.

"If I tell them the price, they ask for a reduction," Peter said. "They mention their price. If it is enough, I sell, but if not, they leave."

As the depreciation of the Cedi continues to affect import costs, the prices of mobile phone accessories are likely to remain high, posing challenges for both dealers and customers.