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The innovative Dutch company, Fairphone, is committed to providing affordable smartphones to a wider audience. Their latest goal is to introduce a phone priced at 400 euros, significantly lower than their current Fairphone 5 priced at around 700 euros. This strategic pricing strategy aims to make their phones more accessible to a larger demographic.
Reinier Hendriks, the newly appointed CEO of Fairphone, envisions expanding the brand's reach by offering more competitive prices. In an interview with the German business newspaper, Handelsblatt, Hendriks emphasized the importance of making Fairphone more mainstream. He believes that the current Fairphone 5 meets 80% of customer needs, but acknowledges the need to cater to a wider market segment. "People want to make a difference without compromising on quality," he stated.
Lowering the price of the Fairphone will not only attract more customers but will also facilitate bulk purchasing of components. This leverage will enable Fairphone to negotiate better prices and terms, bringing them closer to their goal of a sustainable supply chain with ethical sourcing practices.
Furthermore, Fairphone plans to expand its market presence by entering 23 additional countries. A recent agreement has already been made for the distribution of Fairphones in the United Kingdom, signaling the company's commitment to global expansion and accessibility.
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