Apple’s initial release of the iPhone X was greeted by much skepticism, and not just because of that notch at the top of its display. The starting price of $999 pushed most analysts to say that Apple had misjudged the market by pricing customers out of what was its highest-end and most revered iPhone. This has continued ever since last September with analysts and commentators continuously claiming that the iPhone X was selling poorly. Of course, they were all wrong and Apple has confirmed that the iPhone X has outsold each and every other iPhone every month since its release.
Not bad for a flop.
With the iPhone X selling gangbusters at $999, it is perhaps no great surprise that the competition is also steadily increasing its prices. Samsung’s Galaxy S9 and Galaxy Note 8 also come with huge prices attached and even OnePlus, once the champion of the inexpensive smartphone is now selling devices at what was previously considered premium prices. Analysts are worried that this trend could continue with the 2018 iPhones, with the iPhone X Plus potentially costing no less than $1,200 according to some analysts.
The thing is, people continue to buy these phones no matter the price, even after initially complaining about the hefty chunk of change that they have to hand over in order to get the latest and greatest smartphones. According to Ben Wood, the chief research analyst at CCS Insight, this is all because “consumers are prepared to pay a premium for a mobile phone because it is arguably the most important product in their lives.”
While Wood says that Apple’s manufacturing costs did likely increase with the iPhone X thanks to the use of an OLED display and Face ID, but not to the extent that the $999 might lead us to believe.
“I certainly accept that some elements of the cost came from the components and the manufacturing process… but not to that order of magnitude,” Wood told CNET.
He might have a point, there.
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