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Over 40% of models have seen a price rise to date, signifying a first for the sector. Certain models have almost doubled in price as producers transferred increased component expenses to buyers.
This year, the most significant price hikes were seen in India (21%), the Asia-Pacific region (19%), and the Middle East and Africa (18%). Smartphone prices rose by 10% in China, 7% in Europe, and 5% in the US, with new models seeing the majority of the increases.
According to Tarun Pathak, research director at Counterpoint, storage is now a crucial element influencing smartphone prices, resulting in alterations throughout the industry. "Consumers are reacting by postponing upgrades, seeking major discounts to purchase a phone, or opting for the second-hand market."
Counterpoint's study focused on the prices of more than 4,000 smartphone models.
source: ft.com
This year, the most significant price hikes were seen in India (21%), the Asia-Pacific region (19%), and the Middle East and Africa (18%). Smartphone prices rose by 10% in China, 7% in Europe, and 5% in the US, with new models seeing the majority of the increases.
According to Tarun Pathak, research director at Counterpoint, storage is now a crucial element influencing smartphone prices, resulting in alterations throughout the industry. "Consumers are reacting by postponing upgrades, seeking major discounts to purchase a phone, or opting for the second-hand market."
Counterpoint's study focused on the prices of more than 4,000 smartphone models.
source: ft.com