• Thursday, May 30, 2024
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Elon Musk’s Starlink slashes price to N440,000 on stronger naira

Elon Musk’s Starlink slashes price to N440,000 on stronger naira

Starlink has slashed the price of its hardware by 45 percent to N440,000 following the strengthening of the naira against the dollar.

Elon Musk’s internet service company announced this on Wednesday. Starlink, which sold for N800,000 as of April 9, now costs N440,000. However, the standard subscription to the internet service remains unchanged at N38,000 per month.

“N440,000 new hardware price. Unlimited high-speed internet for N38,000 per month. Available everywhere in Nigeria,” the firm said on its website.

Starlink’s hardware used to cost about N378,000 until about a month ago. Prices were increased following the persistent decline in the naira’s value. The naira has since appreciated from record lows close to N2,000/$ to N1230.61/$ as of April 8, 2024, on the official window.

The internet company has also slashed its hardware prices in South Africa from ZAR 12,000 to ZAR 6,800 earlier in the week. In recent months, the firm has been announcing launches in different countries, including Mongolia and Argentina.

Since going live in Nigeria in January 2023, Starlink has grown its subscriber base to 11,207, according to data from the Nigerian Communications Commission (third quarter of 2023). Nigeria was the firm’s first African operation country and its 47th globally.