Smartphones have been getting more expensive over the last two years with manufacturers focusing on speed, display size and cameras to warrant sky-high prices.
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00:00All right, how much would you pay for this?
00:08If you're wondering which phone was that you don't get to ask that question, that's not what we're asking today
00:12We're asking you is how much would you pay for a new top-of-the-line smartphone?
00:17Regardless of brand or what the components it has or what the new features are just assuming it was the best
00:23How much would you pay?
00:24We asked around for a lot of people to get their comments and most of them were like you they're like well
00:28It depends on who makes and everything else. Well, we went to a more basic idea, which is called
00:33the principle of
00:35Elasticity of demand which means if you want something bad enough and we know you want those smartphones
00:40The price will insteadly increase until well, basically you just won't pay for them anymore
00:45Now no one really wants to put their neck out and say exactly how much some of these phones are going to cost
00:50But we did get one company who said that prices are expected to increase five percent annually for the next five years
00:56Now if you've been watching recently at the smartphone prices and in the cases like Amazon and Samsung
01:02We're seeing prices are up to 1600 US dollars per phone. That means in five years it could crack the
01:09$2,000 level per phone. That's almost
01:137,600 derms a phone now, would you be willing to pay for that you say no now?
01:18But we'll have to come back in five years and find out what you're paying. But for now, we're still just curious
01:23What you think? Thanks a lot. I'm Scott Shoei and this is overclocked
01:26You