In 2008, a BeiDou-1 ground terminal cost around CN¥20,000RMB (US$2,929), almost 10 times the price of a contemporary GPS terminal. The price of the terminals was explained as being due to the cost of imported microchips. At the China High-Tech Fair ELEXCON of November 2009 in Shenzhen, a BeiDou terminal priced at CN¥3,000RMB was presented.