‘Smartphones may cost one-fourth of current price once chip production starts’

New Delhi, Oct 7 (FN Agency) Prices of laptops, smartphones and TVs could fall substantially and may cost one-fourth of their current prices once the manufacturing of semiconductor and glass starts, said Vedanta Group Chief Anil Agarwal here on Friday while speaking at Invest Rajasthan event. “Today, our poor people cannot afford a phone that costs Rs 20,000. But once semiconductor and glass manufacturing starts here then those phones could be available for Rs 4,000-5,000. Laptops could cost as low as Rs 40,000. The TVs which currently costs us Rs 30,000-40,000 could possibly be available for Rs 5,000,” Vedanta Chairman said.

“We all live in dreams and see the dreams. If we see dreams they could actually come true also,” he added. Vedanta in joint venture with Taiwan-based multinational contract electronics manufacturer Foxconn has proposed to set up a semiconductor-manufacturing plant in Gujarat with an estimated investment of Rs 1.60 lakh crore. While committing support for growth and development in Rajasthan, Agarwal said that the state could make fast progress in the areas of natural resources and technology. He appreciated the investor-friendly environment in the state. The two-day Invest Rajasthan event kicked off today with Chief Minister Ashok Gehlot inaugurating it. Adani Group Chairman Gautam Adani, Vedanta Group Chief Anil Agarwal, Tata Power CEO & MD Praveer Sinha and Mahindra & Mahindra MD & CEO Anish Shah were among the top industry captains who attended the event. Many industry groups committed fresh investment in the state.