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Starlink, the internet service company founded by Elon Musk, has announced a significant reduction in the price of its hardware in Nigeria. The cost of the Starlink internet router has been slashed by 45%, from N800,000 to N440,000. This price adjustment comes after a previous price hike in March due to the declining value of the Naira.
Reasons for the Price Reduction
While Starlink has not explicitly stated the reasons for the recent price reduction, analysts speculate that the appreciation of the Naira against the dollar may have influenced the decision. The Naira has been experiencing a recovery, reaching its peak against the dollar since its devaluation in January 2024. This strength of the Nigerian currency has likely impacted Starlink’s pricing strategy.
Expanding Market Presence
In addition to Nigeria, Starlink has also reduced hardware costs in South Africa by 43%, despite the region’s lack of official licensing. Customers in South Africa can access Starlink services through global or regional roaming subscriptions. Since its introduction in January 2023, Starlink has seen significant growth in its market presence in Nigeria. Despite the higher pricing compared to local internet service providers, the company has attracted over 11,000 subscribers as of the third quarter of 2023. This customer interest is driven by Starlink’s promise of reliable internet access, particularly in regions with poor connectivity.
This article was updated 3 weeks ago
