Smartphone Prices Shoot Up By 7% in Q3 2017

A report by GfK, a German-based market research company, revealed that the average price of smartphones has gone up by 7% in third quarter of this year, which is a new record.

Q3 of this year also sees the demand for smartphones increase by 3%. The latest spike in prices and demand for phones was revealed when GfK in itsquarterly report.

Statistics

According to GfK reports, last year 355.4 million smartphones were sold, the number should increase to 366.6 million this year.

Comparing all regions we can see the record demand was predominantly steered by Latin America and Central and Eastern Europe.


Among Asian countries, only South Korea saw a decreased demand. Sales of smartphones dropped by 15% there. However, China, where you can find many mid-range phones, saw sales value go up by 20%. Demand also increased by 5% in China.

Overall Change from 2016 to 2017

GfK’s results show the total change from last year to 2017. Demand increased by 4% in 2017 while sales value also increased by 10% at the same time.



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