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Economy News

The Economic Times

Economy / The Economic Times

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It's the same old phone with a new name & fatter price tag

Smartphone companies are renaming old budget phones and increasing prices. This is due to rising component costs and currency fluctuations. Core specifications remain largely the same with minor changes. Some models even see downgrades. This strategy aims to offset losses and maintain profitability. Higher-end phones are prioritized for new technology. Smartphone shipments are expected to decline.

20 May 2026 12:46 am