Smartphone prices have ballooned in the last few years, with $1000 being the “standard” price for a flagship phone, and many devices going well over that. 5G and folding phones inflate that cost even more, making phones much more expensive than they’ve ever been.
But according to an NPD report, not many consumers are buying them.
The report says that less than 10% of consumers are purchasing phones that cost over a grand, and it’s generally people that live in big cities that are willing to drop that kind of cash. There are a couple reasons for this, too, and it goes beyond just the high price tag.
Consumers aren’t spending that much money on smartphones, but they are very aware of 5G rolling out soon. Since more 5G phones are on the horizon but right now they’re insanely expensive, we’re at a point where people are willing to wait a bit to upgrade their devices. Over the next few years we’ll likely see 5G phones decrease in price and become more widespread outside of just the premium category, and that will help adoption.
But what about you? What’s the most you’re willing to spend on a smartphone right now, and is 5G something that’s keeping you from upgrading right now?
via: Ars Technica