Elon Musk’s Slashes Starlink Price as Naira Appreciates Against The Dollar
- Starlink, the satellite internet company, has slashed its hardware price in Nigeria by 45%
- The hardware, which sold for N800,000 as of April 9, 2024, now sells for N440,000, but the subscription remains unchanged at N38,000 monthly
- The development as the naira strengthened against the US dollar to N1,230 as against N1,600 it traded in February 2024
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Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.
Starlink has slashed the price of its hardware by 45% to N440,000 as the naira strengthened against the US dollar.
Source: Getty Images
The hardware price drops from N800,000
Starlink announced the new rate on Wednesday, April 10, 2024.
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As of April 9, 2024, the Starlink hardware sold for N800,000 is now worth N440,000. The standard internet service subscription remains the same at N38,000 monthly.
The company said:
“N440,000 new hardware price. Unlimited high-speed internet for N38,000 per month. Available everywhere in Nigeria.”
Until March 2024, the hardware sold for N378,000 and was later increased following the crash of the Nigerian currency.
Starlink slashes price on stronger naira
According to reports, the naira has since strengthened against the dollar to about N1,23o per dollar, according to the latest data from NAFEM as of April 8, 2024.
Starlink also slashed its hardware prices in South Africa from ZAR 12,000 to 6,800 earlier in the week.
The company announced its launch in different countries, such as Mongolia and Argentina.
The company began operations in Nigeria in January 2023 and has grown its subscribers to 11,207.
Starlink launched its first African operation in Nigeria and its 47th globally.
Another African country rejects Elon Musk’s Starlink
Legit.ng earlier reported that Starlink's operation in Africa continues to prove difficult, thanks to regulatory challenges on the continent.
The most recent setback comes from Botswana, which has denied approval for Starlink to commence operation.
Tech Cabal reports that Botswana’s Communication Authority was not fully satisfied with Starlink's application submitted and demanded more information. However, the report noted that Starlink has not yet submitted the requested information for approval.
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Source: Legit.ng
