Why are Smartphones so Expensive?

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Most things in life get more expensive over time – wages, cost of living, real estate, art, etc. But technology reliably gets less expensive.

I am not talking about appreciation or depreciation – clearly technology depreciates. But, new tech is generally faster, better, and cheaper than the older tech it replaces.

Except for smartphones. The new iPhone is expected to be over $1k. The new Android flagship phones are all

Dave Michels