The $999 iPhone X is paving the way for an even pricier smartphone market
Anticipation is building ahead of the Phone X's November 3 launch. With its base price of $999, the iPhone X is the most expensive phone Apple has ever released, and one of the most expensive phones on the mainstream market.
Unfortunately for cash-strapped consumers, Apple is at the forefront of a trend when it comes to pricing. According to data from market research firm Gfk, smartphone makers are likely to focus more on premium (read expensive) products. As we can see in this chart from Statista, Gfk estimates that the global average sales price of smartphones will increase more year-over-year in 2017 than it has in past years.
Premium features such as water and dust protection, biometric sensors and bigger screens are all driving prices up, says Gkf analyst Arndt Polifke. Consumers may have to pay more, but they'll be getting more too.
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