Sales of new mobile lines drop 50% after increase in regulatory fees

Sales of new mobile lines have dropped 50% following the government’s recent decision to hike regulatory fees for new mobile lines to EGP 70 from EGP 20, industry sources said, according to Amwal Al Ghad. The drop was an “expected reaction” to the price hike, sources say, predicting sales to hike back to normal after the new prices settle in with the consumer. Industry insiders had previously claimed that the fee hike will result in EGP 2 bn in losses to the industry.