The 8G iPhone went on the market for $599 and was slashed down to $399 just a few months later. It's a trend that is more than common in the tech world — it's expected. Despite the lower cost (or quick price drop) of cell phones, people are still dishing out loads of cash for the hottest device.
According to new data from the NPD Group, people are actually spending more on cellphones than a year ago. Americans spent a total of $3.2 billion on phones this year, up from $2.2 billion a year earlier. The phone cost this year is about $82.8, up 40 percent from $58.95 a year ago. The thing is, it's not just the actual phone consumers are paying for — we are also paying for all the added goodies. The New York Times reports:
"Half the phones sold in the period could play MP3 music files, compared to one quarter a year ago. Bluetooth capability was on 72 percent of phones sold, compared to 50 percent a year ago. And 11 percent were those digital Swiss Army knives called smartphones, up from only 4 percent a year ago."
I am guilty of buying in to the latest devices and services regardless of price so the trend of paying more seems like a no brainer. What do you think?