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Coronavirus pushes up Chinese phones prices

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China phone prices – The outbreak of Corona virus in China is beginning to affect trade in Nigeria negatively as prices of some products from China have begun to soar.
Checks by our correspondent in Abuja revealed that mostly affected are phones produced in China .
According to findings , Chinese mobile manufacturers are currently dominating the Nigerian mobile market .
It was gathered that within the last three weeks , the rate at which products were imported from China had reduced drastically .
It was learnt that many of the manufacturing companies that produced these products in China had shut down operations due to the outbreak of the coronavirus .
This was aimed at reducing the spread of the disease – China phone prices
One of the phone dealers in Abuja who gave his name as Samuel Nnamdi told our correspondent that he has been out of stock of infinix and other brands of phones in the last two weeks .
He said most of his business partners who had travelled to China to observe their new year and had wanted to use the opportunity to bring in products had not been able to do so due to the outbreak of the coronavirus .
The development, according to him , had resulted in a supply gap of some of the popular Chinese phone brands such as Infinix , Tecno , and Gionee.
He also said some of the new entrants in the market such as Oppo , Xiaomi , and Vivo were beginning to experience supply gaps .
He said for instance within the last one month, the prices of phones produced in China had increased by an average of 15 per cent.
Checks by our correspondent revealed that about a month ago , a unit of Infinix Hot 8 phone sold for N 36 ,000 in Abuja .
However , the scarcity of the product has forced the price up by about 16 . 7 per cent to N42 ,000 .
Similarly , the price of a unit of Tecno Spark 4 has risen from N34 ,000 to N 40 ,000 while that of Samsung A51 has moved up from N100 ,000 to N 110 ,000 .
Confirming the development, the President , National Association of Nigerian Traders , Ken Ukaoha , said the coronavirus had seriously affected trade between Nigeria and China as well as the global community .
He said , “The coronavirus has seriously affected trade between Nigeria and China and the rest of the global community .
“Now , as it is, what we are running into is that there will be a trade shortage across the world.
“Trade between Nigeria and China is very strategic because over 87 per cent of goods imported into Nigeria are from China and the entire Asian Tiger .
“Now you can see that coronavirus has affected China and places like South Korea as well and then people are no longer going to those places .
“If you look at the transportation sector now , you discover a dwindling of passengers going into China . So , the virus is negative having an impact both on trade , transport and tourism over there .”
He also said the manufacturing sector would feel the negative impact as raw materials from China were needed in Nigeria to produce finished goods .

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