New Delhi: In the past few years, the prices of smartphones have increased significantly, with rising input and manufacturing costs. However, according to a new report, the prices of smartphones could further increase remarkably. For instance, the report noted that Apple iPhone could cost more than Rs 4.7 lakh in the year 2032, 10 years from now. If you find that expensive, you should note that even today, foldable phones are selling at up to Rs 2 lakh per device. So, Rs 4.7 lakh for an iPhone in 2032 may not shock Apple fans or interested buyers. 

Currently, brands try to make buying a smartphone more affordable by offering card discounts, cashback offers, and exchange offer discounts. However, if the phone prices shoot up rapidly in the coming years, it could be more difficult to lure customers with such deals. (ALSO READ: Deltatech Gaming files Rs 550 crore IPO papers with Sebi) 

The report published by smartphone marketplace Mozillion suggests that the price of the flagship iPhone could be more than Rs 4.7 lakh. It is important to note that Apple was the first company to launch a phone above the $1000 mark with iPhone X in 2017. (ALSO READ:

The price of iPhone models has increased significantly in the past decade, the report said, pointing out that iPhone 5 was launched in 2012 at a starting price of $199. In comparison, the iPhone 13 Pro Max was launched at an introductory price of $1,099. The rates are expected to go north further. (ALSO READ: Paytm CEO Vijay Shekhar Sharma buys firm shares worth Rs 11 crore, stock up nearly 5%) 

The report also pointed out that besides Apple, other smartphone manufacturers are expected to increase the prices of their devices. For instance, high-end smartphones from Huawei could cost more than Rs 2.57 (at the current rate) in 2032. Similarly, Motorola’s flagship smartphones could cost more than Rs 2.6 lakh by 2032.

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