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Cost of smartphone handset as a percentage of Gross National Income compared by developing vs developed nations |
The cost of mobile handsets over the years show a perfect illustration of demand supply economics in action.Global smartphones cost have come down dramatically over the years.The global average selling price of smartphones reached the highest in the year 2011 when the smartphone growth was at its highest. At that time mobile devices were sold for an average of 348.6 USD.
Since then, the average selling price of smartphones has constantly declined, going from 332.5USD . 2012 to 276 USD in 2015. By 2019, the cost of an average smartphone is forecast to drop to $214 .
North America has the highest average selling price for smartphones.North American customers paid $531 for a smartphone in 2013. By 2017, the average selling price for smartphones in this region is forecast to increase to $567. Asia Pacific, on the other hand, has the most affordable average selling price $262. dollars in 2013, forecast to decrease to $215 by 2017.
Currently Smartphones in the mid-range price that is, with a retail price between 150 USD dollars and 550 USD accounted for 40% of all smartphone shipments across the world.According to statista the mid price range will increase to about 48% of total smartphone shipments by 2019 |
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