The Red Hydrogen ONE, the Galaxy Note 8, the iPhone 8, and more than likely the Galaxy S9 in 2018, are all phones that cost, or are rumored to cost over 1000 dollars. The specs of these devices are insane. The cameras can now be quality replacements for people’s DSLRs (I mean for most of us). You can even substitute these smartphones in as a computing solution. But would you pay the equivalent of a mortgage or rent payment for one of these phones?
History tells us that phones generally last a solid 2 years. For a couple of reasons including damage, and FOMO, you can almost bet that your 1000 dollar investment will only last you 2, maybe 3 years.
I’m only guessing that folks will be contemplating payment arrangements on super important payments, like a car note, a house payment, something else. Why do we need to be at the point of contemplating whether we should pay our car notes to buy some of these phones? Why does the cost level of these devices need to be at a sky high level? What part of these devices justify paying almost 1100 dollars.
Sure, spreading the payment out over 24 to 30 months is an option, which will drop the payments down to 40-60 dollars a month for 30 months. This might be an easier sell for folks, but when you can comparatively spend 15 dollars on a capable phone, do you want to spend 50 more dollars potentially for a phone? Every month for 2 and a half years? That’s a tough sell.
Thinking about it all, I’m not sure if the specs of devices like the Note 8, and the iPhone 8, are really worth spending a grand.
Let me know what you think.