Why Are Phones so Expensive?

Since 2000, the evolution of phones has gone into overdrive, with today’s smartphones boasting a staggering range of features. In fact, despite still having the word “phone” in their name, a typical modern smartphone has more in common with a computer than what we would traditionally think of as a phone. We’ve come to expect a lot from the humble mobile phone. This has meant that the smartphone market has become incredibly competitive. Creating and building devices jampacked with new technology costs money. But can that alone account for how expensive smartphones have become?