Smartphone companies Apple, Samsung and Google all reported that it is harder to sell a smartphone now than in the past.
Business Insiders spell out some of the reasons why smartphone sales are tanking.
One of the biggest reasons is the cost of smartphones. Some new phones cost $900 and even higher! Many consumers prefer buying cheaper phones or keeping their old phones.
New smartphones come with some upgraded features, but the difference between older and newer smartphones make it difficult to justify upgrading for the consumer.
Another reason may be people like to keep their current smartphones for convenience or even buying cheaper models.
This could be the reason that Apple is focusing on different services like, Apple Pay and their Apple Tv Plus streaming services, which can bring in more money with less work than constantly putting out new phones.
Samsung is also focusing on upgraded phones. Recently Samsung has come up with 5G internet phones and foldable screens.
With the frequently changing technology, the decline of smartphones’ sales can become an issue in the future and maybe a serious issue for sellers.