On October 13th, Counterpoint Research's yearly global smartphone consumer survey unveiled that 63% of consumers intending to buy a smartphone within the forthcoming six months have observed a hike in smartphone prices. Among an array of daily consumer goods and services, smartphones, in tandem with fuel, groceries, and daily necessities, have emerged as one of the two principal categories where consumers discern a notable price escalation. Remarkably, Chinese consumers exhibit the utmost awareness of price hikes, with a staggering 81%, trailed by Germany and India at 70% and 66%, respectively. In contrast, both the US and UK register at 50%. Tarun Pathak, the Research Director at Counterpoint Research, highlighted that escalating storage costs constitute the chief driver behind the surge in smartphone prices, posing a challenge for OEMs to fully absorb these expenses. Consequently, as per the global smartphone price increase report, it is anticipated that by the end of 2026, the prices of smartphones available worldwide will ascend by an average of 20%, with new models potentially witnessing price hikes of up to 30% on a year-on-year basis.