In its wake, the precedent has set more and more standards in several other entities whose work-like maintaining friendships, hobbies, or shopping, shall never succumb to neglecting the phone ever again. However, the news is that evil since the prices of smartphones are going to go up in a few months. Competent authorities have attributed various reasons to the burden on consumers' pockets.
Reasons for the Rise in Prices of Smartphones
Production cost is indeed the central reason for rising prices concerning the global chip crisis, rising raw material prices, and higher logistics costs for manufacturers of mobile phones. Besides this, price rates are directly impacted by the dollar rate and inflation. This way, these forces are driving the companies to higher requests for new phone models.
Effect of Taxation and Import Duties
Such taxes and duties of high order have been imposed in some countries, including India. This has, in turn, conjured up prices for those smartphone brands of foreign origin in the local market. New models of popular brands like Samsung and Apple and Xiaomi, or OnePlus may be selling for a higher price than their predecessors did in the market. This will affect the high price yet mid-range phones' entry.
5G Technologies and Pressure
Customers today want blazing-fast networks, better-resolution cameras, AI features, and long-lasting batteries. The demands require manufacturers to implement the latest hardware solutions and software, thereby putting pressure on the cost of production. In particular, with 5G chipsets, fast-refresh displays, and complex camera sensors, the prices are conspiring.
Effect on Consumers
It is a good warning for those looking to buy a new phone in the coming months. If the much-needed phone is purchased now, it could mean some savings on Tuesday for many, with many brand promotions and discount strategies during this festive time. If the purchase is delayed, it could cost a couple of extra thousand bucks for the same phone.
Well, considering those things, a smartphone shall cost more in the months that are coming. Chips shortage, rising production costs, huge taxes, and embracing some technologies all make an irresistible assault on the price for the consumer. It should be wise for all those wishing for a smartphone to grab it now before they pay extra for the same model in time to come.
Conclusion
From a layman's perspective, smartphones have become essential, and anything possible to make that is a bit lighter on the pocket in just a few months should be good.
You can also read: Apple iPhone in Trouble? The Shocking Reason Apple Is Falling Behind And It’s NOT AI
Follow our WhatsApp channel for the latest news and updates
