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The falling price of the 5G phone specialized semiconductors helped make faster mobile service affordable to more lower-income consumers globally, the Wall Street Journal reports. The trend could likely continue over the next two years.
The average price of a 5G system-on-a-chip costs $40 - $45 and could reach $20 late this year or early next year, Counterpoint Research observed. It saw mobile-phone makers putting 5G chips in devices with a retail price of around $150.
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Asia's prioritization of 5G chips by chip manufacturers in China and Taiwan is pushing chip prices lower and driving the production of budget 5G-capable devices, Counterpoint admitted. U.S. carrier Consumer Cellular Inc looks to offer a 5G phone priced at $199 by June and one priced at around $150 by early 2023.
WSJ noted that Canalys sees 5G capability spreading to at least 80% of phones priced under $200 globally over the next two to three years, from less than 5% currently. In 2021, Indian conglomerate Reliance Industries postponed the budget smartphone launch with Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL), citing an industry crisis.
Apple Inc (NASDAQ: AAPL) recently launched its third-generation iPhone SE, priced at $429.
China's budget phone makers Xiaomi Corp (OTC:XIACY) (OTC:XIACF), Oppo and Vivo are trying to win contracts in India to manufacture phones locally for export, Bloomberg reports. India will likely accomplish $60 billion in exports by 2026."
Price Action: AAPL shares traded higher by 1.83% at $161.42 in the premarket on the last check Friday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.