Should you spend $1,000 on a smartphone?

When smartphone As they became popular, many lower-cost options flooded the market. But it’s also the popularity that tech players like Samsung and Apple are taking advantage of, by introducing flagship phone new every year with bigger screens, better displays, smarter chips, and higher prices. By some estimates, the average price of a smartphone has increased by more than 10% year on year.

Some of you may think that your smartphone is by far the most important piece of technology in your life and that means you are willing to spend the most money on it. That is fair. There are many justifications for big expenditures, similar to how people justify taking a private jet, buying a Bentley or spending a month on a Prada handbag.

Here are some of the common excuses we hear.

“My smartphone is my computer”

For some people, smartphones are the personal computing device they absolutely use the most. In those cases, it’s easy to see why someone might be willing to spend more on a premium smartphone, especially if they don’t want to upgrade once a year and save money on advancements. Real set of features and technology. And when you consider all the things you can do with them: the processing power of flagship phones is now comparable to some laptops – our phones are truly pocket computers ours.

However, some people disagree with this argument. “I don’t know if that makes perfect sense, because now you can buy computers that cost much less than an iPhone or Samsung,” said Carolina Milanesi, principal analyst at Creative Strategies. “. However, many people defend their view that the expensive smartphone is more than just a computer. They also use as your camera, MP3 player and alarm clock as well as your emails and messages.

“I need it for my work”

This reason is closely related to “My smartphone is my computer”. And buying a reliable phone for business can be a very good reason to spend on the latest and greatest technology.

But even if you are convinced that you need the most expensive smartphone for your work, you still need to assess the opportunity cost of this form of buying, Many analysts have questioned. Ask: “Why did you spend your money on this phone? If this functionality doesn’t really help your business, do you really need the latest functionality?”. The answer may be no.

“If you break it down by cost-per-use, it’s worth it!”

80 times per day. 150 times per day. 2,000 times per day. That’s how often we interact with our phones on a daily basis, according to some studies. And those are only fleeting interactions; never mind about the time when we are really productive, watching videos or chatting with friends.

This justification for heavy use certainly makes the high price tag of a flagship phone seem less annoying. Here’s some basic math: Let’s say you use your $1,000 phone 100 times a day, 365 days a year. That means each interaction costs 2 to 3 cents. And the longer you use it, the more value you get.

However, that’s not necessarily a reason to buy the most expensive phone. If you don’t have a huge need to buy a super expensive flagship phone, you can easily buy an older or cheaper smartphone, tweak the recipe above and even get more satisfying results.

“I want the best”

While it’s an honest admission, this justification is flimsy.

In the high-end smartphone market, many components are starting to look the same, whether it’s the brilliant display, the blazing fast processing speed, or the imaging features that make professional photographers nervous.

And as with any premium product, what one considers the “best” may actually be based on peripheral or intangible factors. “There’s an exclusivity that comes with high-priced items, and it’s really about a brand,” said Dana Telsey, managing director and research director at Telsey Advisory Group. denim jeans for $800 and others for $50? It can be different in terms of fabric or where you buy it, but it can also be an element of exclusivity that allows you to be more visible.”

This explanation also reveals the desire of a part of buyers to bring something that is supposed to be the best. That is the thing to confirm the level.

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