Apple's ever-increasing prices have finally started affecting the sales of its products

Owning an expensive smartphone is considered cool by many. However, there is a limitation to everything. With the smartphone prices going up on a constant basis, the people have started showing less interest in purchasing a fancy smartphone.

A survey was conducted recently by SurveyMonkey for USA Today. Over a 1000 smartphone purchasers took part in the survey. Many interesting revelations were made in the study. The most important one was that people prefer owning a smartphone on which they have to spend around $500 at best. Here are the complete results:

1. More than $1,000: 3%

2. $751 to $1,000: 16%

3. $501 to $750: 25%

4. $300 to $500: 26%

5. Sub-$300: 30%

These results are particularly concerning for Apple as their phones have managed to go over $1,000. Of course the prices vary based on the specifications but their full-spec 512GB iPhone XS Max costs nearly $1,500, making it accessible to less than 5% of the smartphone fanatics.
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Moreover, Apple's cheapest iPhone isn’t THAT cheap either. The 32GB iPhone 7, which is the least costing iPhone on sale at the moment, costs $449 on retail. Although it seems like a decent deal, it should be taken into account that it is not talk of the town anymore and its best years are beyond it.

Thus, Apple seriously needs to consider introducing a smartphone, which can satisfy the consumers looking for a cheap yet fully functional iPhone. This approach can definitely help the tech giant in the long run.

On the other hand china based brands, especially Huawei, OPPO and Xiaomi are making waves in global tech market, here's a glimpse of worldwide smartphone shipments of the leading vendors in 2018:

Chinese Brands Make Waves in Global Smartphone Market

Chart via: Statista.

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