Challenging times for mobile handset makers as falling rupee gives jitters

Companies like Intex was forced to withdraw its existing models and replace them with new ones while others like OnePlus is contemplating a round of price hike in the coming months

On Friday evening, the exchange rate for US dollar versus rupee stood at 72.55. The value of the local currency had depreciated by 13.9 per cent, after rupee touching the 73-mark in late August, making it one of the worst performing Asian currencies. While its implications are being felt on the import-dependent sectors such as petroleum and gold, the shockwave it is sending across mobile handsets industry mostly remains under the surface.

A steady slide in currency rate has left handset manufacturers — who depend on Chinese components — in jitters. Around 90 per cent of the smartphone components are