With the increase in the usage of smartphones, all phone prices are soaring each year. Globally, there is an increase in the average price of a smartphone by 6 percent, according to the GKF data.
The rise is surprising to many of us, as there is always a decrease in the price of smartphones and electronics. With the increase in production of more components, the costs come down. Since Apple released the first iPhone, competition between players increased, and more players entered the market with cheaper options.
The demand of smartphone in markets like India and China where 62 % of the population uses the handy gadget move towards local competitors whose lower prices appealed to customers,.It helps in driving down the average price of smartphones globally.
Now, in the last few years, the majority of people in the world become smartphone owners, the makers of the phones are adding new features to encourage customers to upgrade their phones. These upgrades lead to moving towards more big price tag phones.
The increase in the prices of the smartphones is seen in full-price phones and did not include prices for subsidized phones made cheaper by network carriers.
Latest Apple iPhone and Samsung Galaxy smartphones series are not among one where we have spotted bigger price tags than their predecessors, but also less expensive brands like China’s Huawei have also raised prices on premium phones.
With the craze towards new technology and upgraded features, consumers are willing to pay for the upgraded smartphones.
The average price for a smartphone in America and other areas increased by 4 percent in the running year compared with the last year. In China, a significant rise of 15 percent is seen.
Your All Phone Price Increase Every Year
The Smartphone prices of top brands are on the rise. The noticeable change can be easily seen when we compared phone prices from today and a few years ago.
Apple’s has risen its prices steadily for its iPhone along with the Plus and Max lines. Samsung’s Galaxy S, S Plus and Note prices are going higher with each new launch.
OnePlus has also increased its price. One of the representatives stated that “Smartphones users has increased drastically over a short amount of time, there is a need in improving its quality components across for high performance.
Google also raised the Pixel 3 price by 23%, without adding many features.
The 5G And Foldable Effect
Apple and Samsung are struggling with sales, but with the new 5G and foldable phone designs, the phone manufacturers increase their prices. 5G phones are the new R&D products and require completely new technology inside the device. We’re still waiting for pricing of 5G phones, but it is expected increased price.
Midrange Phones Are Affordable
5G phones have more popped smartphone prices, but it does not mean that the cost of every smartphone will rise at such rate.
We still have good options available in the middle and low end where phones of Huawei and Motorola are good enough.