Since 2014, smartphone users worldwide have spent over $400 billion annually on new devices- a shocking figure equivalent to the GDP of countries like Ireland or the United Arab Emirates. While the annual spending on new smartphones remained steady, smartphone prices have not. The average smartphone price has fluctuated significantly, reaching an all-time high of $318 in 2021 and then plunging to $287 last year. While many welcomed this 10% price drop, 2025 brings just the opposite trend.
According to data presented by Betideas.com, the average smartphone price is expected to climb to nearly $300 this year, marking its first increase in three years.
Five Years of Rising Prices Ahead
Over the past ten years, smartphones have gone from simple communication tools to powerful devices with AI, 5G, and cutting-edge cameras. The latest tech trends, like foldable screens and smart assistants, have made smartphone technology even more intuitive, but these advancements come at a price.
Since 2019, the average iPhone price has surged by 23% or $188, hitting $1,000 last year. Android smartphones saw an even bigger price growth, rising by 29% to an average of $335 in 2024. While most consumers will spend less than these figures on a new device, they`ll still pay more than they did last year.
According to a Statista Market Insights survey, after years of decline and stagnation, the average smartphone price will go up by 3% in 2025, rising from $287 to $296. The first growth in three years will push smartphone prices closer to the $300 range, where it has been for much of the past five years. However, this is just the start of a long-term trend.
Statista’s latest projections show the smartphone market is heading into five years of surging prices, resulting in double-digit growth by the end of a decade. After reaching $296 in 2025, the average smartphone price will hit $304.5 in 2026 and then jump to over $312 in 2027. The increasing trend will continue in 2028 and 2029, with the average smartphone price growing by another $16 and reaching $328.6 by the end of a decade.
Global Smartphone Sales to Surge by $77 Billion by 2029
With more people upgrading their devices and spending an extra $40 on average to buy a new device, global smartphone sales will hit record highs in the following years.
According to Statista market projections, smartphone vendors will gross over $485 billion this year, or $20 billion more than in 2024. By the end of 2026, global smartphone sales will hit the half-a-billion-dollar mark for the first time and continue rising. Statistics show that annual smartphone sales will hit a massive $562 billion in 2029, representing a 16% or $77 billion increase in four years.
One-quarter of that value, or $137 billion, will come from China, the world`s largest smartphone industry, while the U.S. and India will each contribute roughly $63 billion in smartphone sales.