Turkey’s smartphone sales drop by over 25 pct

The sale of smartphones in Turkey dipped by 27 percent in the fourth quarter of 2018 compared to 2017, independent news site Diken reported.

The country’s smartphone market contracted by over 20 percent in endorsements and numbers in the fourth quarter of last year, Diken said, citing data from the GfK Temax research company.

Soaring prices triggered by to Turkey’s currency crisis in addition to a limitation placed on payment instalments for technological goods are believed to affected the sale of phones, the news site noted.

A currency crisis in 2018 wiped some 30 percent off the value of the Turkish lira, while dropping to currency to record low of 7.24 against the U.S. dollar, causing the price of imported products to catapult. 

Meanwhile, price increases on products across the board continue to raise concern in the county. Turkey’s inflation rate fell just below the 20 percent threshold in February, decreasing to an annual 19.67 percent from 20.35 percent in January.