Laptop prices have surged due to forex scarcity and high inflation, making it difficult for customers to cope with the increased costs.
As a result, many prospective buyers turn away when they realize the prices are beyond their budgets, and as such the laptop market in Nigeria is facing tough times, with dwindling sales and rising costs.
Nairametrics reported that a laptop dealer at the Lagos Computer Village, Cornelious Anyanwu, lamented the challenging situation, stating, “Sales have been terrible as costs are rising every day. This is what we have been doing for years, never have we had it this bad. I’m not sure I’m going to restock my shop after this because people are not coming to buy.”
An HP Spectre X360 laptop, which was sold for N890,000 three months ago, now costs N1,025,000.
An HP Pavilion X360 laptop, previously priced at N350,000, is now selling for N452,000. The rising costs have pushed customers to explore used laptops as a more affordable alternative.
CEO of K-Chronos Global Tech Limited, Presley Ibadin, observed that customers now prefer used laptops due to the high cost of new ones.
However, even used laptops face challenges in selling, as customers often offer prices lower than the cost price.
The unstable foreign exchange rate has been a major contributor to the laptop market’s struggles.
Dealers are running at losses due to currency volatility. Additionally, Nigeria’s dependence on imported computer components and the cost of production and shipping further impact prices.
The situation has led some dealers to adjust their stock according to customers’ budgets. They look for low-budget laptops to meet demand.
However, the industry’s survival remains uncertain unless the government intervenes to encourage local laptop production and create a conducive environment for the tech market to thrive.
