Are smartphones getting pricier?

A high-end smartphone has never come cheap. An all-singing, all-dancing mobile device is expensive to design and build, so understandably, the manufacturer is quite keen to make a reasonable profit on their latest offering.

But it’s certainly true to say that smartphones have become more expensive in the last few years.

Indeed, recent figures from market research specialist GfK show that the value of the worldwide smartphone market has gone up by nine per cent in the last year.

While that partly reflects a four per cent increase in unit sales during this time, it’s also an indication of how retail prices have gone up too.

Consumer group Which? certainly believes smartphones are becoming costlier, noting that the recent Samsung Galaxy S8 costs an “eye-watering” £689 to buy outright.

This, it said, is higher than the £569 price tag attached to its predecessor – the Galaxy S7 – upon release.

Which? noted a similar pattern with OnePlus, as the OnePlus 5 cost £449 when it was first rolled out recently.

By contrast, the OnePlus 3T was priced at just £339 when it was unveiled last year.

“Smartphone prices continue to rise, and we’re interested to see whether and when it plateaus,” Which? observed.

Of course, some people simply have to have the very latest high-end smartphone and will pay whatever they need to in order to get it.

Manufacturers know that and they have enough brand equity banked to be able to charge premium prices to loyal customers.

But consumers who aren’t attached to a specific brand should probably remember that a high-price tag doesn’t automatically translate to the best possible phone.

In fact, there are plenty of far more affordable options available that will do both what you want and need it to do.

If you’re in the market for a new phone, look beyond the price tag, do your research, check online reviews and listen to recommendations from your friends.ADNFCR-2155-ID-801838539-ADNFCR

Written by Mazuma

Mazuma Mobile is the UK's most trusted mobile phone recycling service.

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