Goodbye, $1000+ Phones: Buyers No Longer Willing to Throw Money Down the Drain

While smartphones are getting more and more expensive with every new generation, the number of customers willing to spend an insane amount of money on such a device is also dropping.

This is the conclusion of a study conducted by NPD Group in the United States, a market where the iPhone 11 Pro, which starts at $999 for the base version, is still selling well.

But NPD says under 10% of consumers are spending more than $1,000 on a smartphone, and this raises particular concerns ahead of the 5G iPhone launch next year.

Research shows consumers in New York and Los Angeles are the ones most likely to purchase a device whose price surpasses the $1,000 milestone, but other than that, potential buyers are looking for more affordable devices overall.

“Consumers are holding onto ...