It has been a very few months since the official launch of the iPhone 11, 11 Pro and 11 Pro Max, but the leaks related to upcoming Apple smartphones they have not been made to beg. The latest one comes from one of the most reputable voices around Apple products, Ming-Chi Kuo. The Tianfeng International analyst affirms that the apple company will launch four iPhones with 5G in 2020. A 5G technology that may be the cause of the increase in the average sale price of mobile phones over the next year. Analysts warn that prices will be higher, although it will hardly mean an increase of between 30 and 100 dollars depending on the model.
The increasingly expensive smartphones
Smartphones are more expensive than ever, as the average selling price of these smart devices is increased by 9% over the past year, according to the report of the consultancy CounterPoint. A trend that has its starting point in 2017, when Apple launched the iPhone X with a price above $ 1.000. Since then, the main manufacturers in the smartphone sector have followed that same upward trend. In this context of exorbitant prices, consumers cannot always afford the cash payment for the mobile they want, so they have to resort to the different financing options available. Today, banks, financial entities, large stores and telephone operators offer the possibility of finance a mobile, although each of them have their own conditions.
Before financing the purchase of a new mobile in installments, several important aspects must be taken into account to know which option best suits our economic needs. The interest rate is the most important point in financing a smartphone, since it will mark the final amount that must be paid monthly in each of the installments. To compare the various current options, pay attention to the Annual Equivalent Rate (APR), which includes most commissions and marks the percentage of interest that will be paid in a year. Each bank or financial entity, as well as large stores and operators will offer a different interest rate, although it usually ranges between 6% and 20%.
The interest rate will also depend on the repayment term chosen by the consumer. Before agreeing on the time to return the financing, it is advisable to assess the financial situation and personal needs to calculate a monthly fee that can be met. Depending on the quantity requested, consumers will be able to choose repayment periods that usually go from five to 18 months. In addition, we must not forget the commissions and the contracting conditions of the agreements, since they can make financing more expensive. As you can see, there are many conditions that must be studied before financing a new mobile, but financing is the most interesting option to face the exorbitant prices of the current market.