Why budget phones are disappearing just when they are needed most

The Korea Times reports that budget and midrange smartphones are disappearing from the market just when consumers most need affordable options. Inflation has thinned consumers' wallets, but soaring component costs, particularly for memory chips, are making it difficult for manufacturers to maintain a low-margin, high-volume business model.

As manufacturers shift focus to expanding their premium foldable phone lineups, consumers are increasingly turning to repairs and secondhand devices. The article highlights Apple's recent price increase of its entry-level iPhone 17e by 16.1 percent, from 990,000 won to 1.15 million won, as well as Samsung's price hike for its Galaxy A37, which now costs 598,400 won, up 19.8 percent.

These price hikes are putting further pressure on consumers and contributing to the decline of budget and midrange smartphone offerings.

Brief written by urgent.news from The Korea Times's own syndicated text. Machine-written — may contain errors; check the original before relying on it.