Planning to buy a smartphone? Why delaying your decision could cost you more

The price of smartphones is on an upward trajectory, driven by several key factors, such as the rise in cost for advanced components, the adoption of 5G technology, and the integration of pioneering features like generative AI. Research from Counterpoint indicates the global average selling price (ASP) for smartphones is likely to increase by 3% in 2024 and an additional 5% in 2025. This surge is primarily due to the rising demand for high-end devices equipped with robust processors and enhanced AI functionalities.