Francis Wong, Realme’s Global Head of Product Marketing, revealed that there will be a massive price hike among smartphones next year. In line with this, the executive encouraged users to buy smartphones now.
Wong explained that the imminent price hike will be caused by the increasing cost of storage and memory components, particularly the NAND Flash, DRAM, and SSD. With the continuous boom in AI, which requires more effective memory components, the hike becomes more inevitable for smartphones. Moreover, there are trade conflicts, currency fluctuations, and specific issues each brand is facing.
In Realme alone, the hike is already expected to happen to the global version of its Realme GT 8 Pro. According to leaks, the phone may have a €100 price increase in Europe compared to its predecessor.
Wong, nonetheless, underscored that the cost escalation is not just exclusive to Realme, noting that “this is a pan-industry issue, no brand can escape it.” Moreover, the executive claimed that Realme is trying hard to find a way not to pass the hike to its consumers.
“We try our best not to transfer such costs to consumers and not impact our upcoming two new products in 2025,” he noted.
To this end, ahead of the expected price crisis in the smartphone market next year, Wong told users that it is the perfect time to purchase their units.
“If you are considering buying a new smartphone, buy it in 2025,” Wong said. “Next year, price hikes will be a pan-industry move like never before.”
