2020 was a challenging year, which altered lifestyles, not just in India but worldwide. With offices, schools and colleges shifting to a work/class-from-home schedule, the demand for computers has significantly increased. On the other hand, companies are not functioning in their full capacity, which has created a supply-demand disproportion that has resulted in the price hike for laptops.
HP laptop prices, for instance, have increased as a result of this difference, and there are few reasons that have played a part here.
Top 4 reasons behind the hike of laptop prices
Here are top reasons that have hiked the HP laptop prices as well as of other brands –
- Increase in demand
The global health crisis in 2020 has suddenly confined individuals to their homes and offices, schools and colleges shut their operations. In these tough times, companies shifted to work from home system, and educational institutes relied on online classes.
This has resulted in a demand surge in the Indian laptop market, especially the budget ones. Families that used to get by with one or two laptops have purchased more for the kids to attend their classes.
- Shortage of supply
Supply shortage also played a vital part in this sudden surge in laptop prices. For instance, HP i7 laptop have drastically increased price due to the halted production. Companies were operating at a low capacity during this crisis, which led to a change in supply-demand ratio for most products, and it affected the prices.
Along with the issues with production, the lack of adequate logistical support also played a vital role here. The transportation system was not operating properly and at its full capacity; hence, sending the products around the country became challenging.
- Price hike of the computer components
Owing to strict government rules during the crisis and surged import duties, the price for various computer components also increased. Since there was a limitation on exports, and the government levied higher import fees, the manufacturing cost also surged for companies.
Manufacturers suffered from the lack of vital components of a laptop computer, which affected their production capabilities.
- High taxes levied
Along with these, the taxation on computer parts and on laptops has also played a part in this price hike. For instance, the government levy 18% GST on the purchase of a laptop and other components it can be in the range of 14% to 28%.
The rising prices of HP laptops have made it challenging to purchase a laptop. However, with the Bajaj Finserv EMI Network Card, one can combat this price hike without any hassle. This digital payment card converts your purchase into easy and affordable EMIs.
Apart from that, this card also offers a host of benefits that makes shopping easy and convenient –
- Pre-approved shopping limit of Rs.2 lakh
- Instant online approval for any purchase
- Flexible repayment tenor and no foreclosure charges after paying the first EMI
- Minimal documentation
- Usable for offline shopping as well
Furthermore, the pre-approved offers extended by the NBFC further ease the loan application process for the existing borrowers. It facilitates the process and saves time. These offers are available on financial products like personal loan, business loan, etc. Buyers can check their pre-approved offers by submitting their essential contact details.
To combat the rising HP laptop prices, one can rely on his/her Bajaj Finserv EMI Network membership, where individuals take advantage of impressive deals and EMI offers by walking into a partner outlet in more than 1900 Indian cities. EMI Network members can also avail of other benefits, such as zero downpayment purchases and more.