5G phone price drops as popularity rises

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The average selling price (ASP) of smartphones will be $413 worldwide this year, up $70 from 2020.

Beyond the chart: Both 4G and 5G phones are getting cheaper, but as more people switch to the new network, overall smartphone ASP is increasing. In 2022, more than half of smartphones shipped will be 5G-enabled, and come 2026 that figure will rise to almost 80%.

The price of these devices will be higher than previously forecast—by $8 this year and $4 in 2026—likely due to supply chain issues and economic headwinds.

More like this:

• Report: The Power of Google
• Article: Why global smartphone demand continues to drop
• Webinar: New Mobile Ad Strategies for 2023

Read yesterday’s Chart of the Day here.