According to a study by the German comparison portal Verivox, prices for smartphones from the leading manufacturers have risen particularly sharply in recent years. “Today, a device from the four most popular manufacturers costs an average of almost 800 euros – which is 97 percent more than in 2015,” Verivox said on Friday.
“However, across all brands, the average price of a smartphone sold in this country increased by only 51 percent during the same period.”
Apple, Samsung, Xiaomi and Huawei
The most important smartphone brands in Germany are Apple, Samsung, Xiaomi and Huawei, which together have a market share of 90 percent, according to Verivox. They currently sell their devices for an average of 792 euros. In particular, the Chinese manufacturers Xiaomi and Huawei have increased their prices.
On the one hand, Verivox sees the trend towards premium models as the reason for the price increases: “These devices are significantly more expensive and better equipped than the standard models.” In addition, the four major manufacturers spend significantly more money on marketing, which in turn drives up prices.
Last year’s models are also mature
The price portal advises to use the devices longer – the technology increasingly allows this – and not to buy the latest smartphone model. “Modern devices are technically so mature that the differences with the previous models are becoming less and less,” explains Jens-Uwe Theumer of Verivox.
A good way to buy a branded smartphone cheaply is to make use of a used and professionally refurbished smartphone. “Such ‘Refurbished Smartphones’ also come with a warranty of up to 36 months,” explains Theumer.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
