You might think you’re paying a fair price for your mobile device.
But that’s just not the case.
According to a new report from The Economist, average monthly smartphone usage has jumped from $300 to $460 per month in the past year.
And this could be just the beginning.
Here’s the kicker: Those increases aren’t evenly distributed.
For example, in the US, a smartphone is roughly the equivalent of the amount you pay in rent per month.
But what about international users?
They spend far less on their smartphones than American users.
According the report, users in Europe and Japan are spending about $600 on their phones per month, compared to $3,600 in the United States.
And that gap widens dramatically for those in Asia, where smartphone usage is also significantly higher.
But don’t fret: While you might pay more for your smartphone, it doesn’t mean you’re getting ripped off.
Here’s why:Your smartphone costs $300 more per month to buy compared to your average salary.
This is because of the cost of upgrading and maintenance, as well as your ability to rent a new device, The Economist explains.
This includes your phone’s price, the monthly cost of buying the phone, and the monthly price of the device’s operating system, if you’re renting from an app store.
According To The Economist’s research, there are three reasons why smartphone users pay a premium.
The first is due to the growing number of smartphones that have dual-core processors, which can run two cores and two threads, making it more efficient for many tasks.
This means that if you want to surf the web on your smartphone instead of a tablet, it might be faster to use a computer, but it’s slower than using your smartphone.
Another way that smartphones are making their money is through subsidies.
As a result, they’re paying more for their monthly bills.
According to The Economist data, the average smartphone user in the U.S. pays $1,200 per month for wireless service.
By comparison, a typical smartphone user pays about $800 per month per line in Europe.
As for the second reason, smartphones have become more powerful in recent years, and that means that more people are using them to do more.
This makes them more efficient, which is why they’re spending more on their monthly devices.
However, while smartphone users are spending more, they don’t have as much money as they used to.
According To The Report, in 2019 smartphone users paid about $1.4 trillion per year on average.
However, this is just a fraction of what the average American consumer is paying for a smartphone.
According the report’s calculations, smartphone users in the UK and the US are paying about $7.6 trillion and $10.3 trillion, respectively.
The third reason is that people are getting smarter with smartphones.
They’re able to stream more and more content, which means that they’re able be more productive.
So they’re not spending as much on their smartphone, and they’re also getting more creative with their devices.
In addition to all these reasons, smartphones are becoming more and less affordable, which makes them a much more attractive investment, according to the report.
In 2020, smartphone costs are about 10 times what they were in 2016, and in 2019, they cost around $1 a month.