Era of cheap smartphones is over

• The era of cheap smartphones is indeed coming to an end, as the average selling price of a smartphone is expected to reach $581 in 2026, up 27.6% from last year.
• The smartphone market is facing a memory shortage, with NAND and DRAM costs rising over 300% year on year, leading to a sharp decline in shipments and a shift towards higher-end products.
• The lower-end smartphone market, particularly in emerging markets, is expected to be the hardest hit, with prices rising faster than expected and some retailers already cutting low-end models from their line-ups.