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The original iPhone cost $500 and adjusting for inflation that is about $800 today. I don't remember phones costing $300 since before the smart phone era. Even Walkman phones cost $500 in the early 2000's.
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800$ for a total novel technology vs 1800$ for a small iteration of the technology. I don't think so many people in the world can afford that.
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Many android phones are under $300, not iPhones obviously.
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You do know the modern smartphone is the most technologically advanced consumer good that has ever existed? Like at no point in history has there ever been something so small, complex and intricate in the hands of so many people. The new iPhone is going to be very expensive - it’s a luxury item and marketed like that.

They can definitely make phones for $300 and you can buy a smartphone that is more powerful than the original iPhone for $50. It probably will be a bit slow running modern apps but it may possibly still be workable for a while.

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> New iPhones used to be $199

With a 2-year contract with your carrier in which you pay the cost of the phone gradually each month

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Look up the figures for inflation, your money is worth a fraction of what it was before COVID, then we have component shortages on top of that.
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The $199/$299 prices were never real. Those were on carrier-subsidized plans.
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they did, significants parts of it, and "during Covid" is ongoing

https://www.cbc.ca/radio/quirks/long-covid-brain-1.7171918

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