Kazi Najib Ashraf: bread and butter

NAJIB,S corner VIP article Everyone loves the smell of money. Trading mobiles and electronics has, for a couple of decades, been at the forefront of a vibrant business that has ensured riches and fame for many. The dynamics have changed, markets have shifted, and the numbers of brands have shrunk, but the adrenaline rush remains. This article takes the readers on a quick review of 2018, and then some tips and tricks to effectively utilize your online trading portals to ensure business growth, so let’s go! I am based in Dubai, so the article has a tinge of the Middle East, but it is relevant for global readers as well.

2018 Trading in Perspective. January dawned with the news of VAT implementation in the UAE and everything froze. I mean, it was as if someone had seen a ghost and were afraid to move! Then clarity dawned, and things started moving one step at a time. I would call 2018 the year of Huawei, as the brand made its mark as an emerging leader, announcing plans to take over the world and then following up on them. Samsung stayed sluggish and comfortably moved to the champion of mid-end though the S and Note did not make waves. Unfortunately, the rot in the Apple started quite early with confusion building through the year and ending in the launch of iPhone X look-alike with varying price ranges.

Nokia returned with a super choice of feature phones being traded in quantities reminiscent of the brand’s heyday. Margins across the year shrank with Huawei really tightening the noose around trading. Who would have thought the Chinese are the ones playing with the strictest rules? To add a bit of insult to injury, both Iran and Saudi Arabia have blocked all electronic devices, specifically mobiles from being imported as they are pushing for direct imports and regulatory restrictions.

What’s the status?

A good development has been the rise of cash trading with the dangerous route of credit going down. On the other hand, unstable markets such as Iraq, Syria and Libya have arrived on the scene. Traders are now looking at new products and markets to address the change, so opportunities are rife. With the current play at hand, it’s important to think out of the box. When one station is skipped there are always opportunities at the next.