Why budget phones are disappearing just when they are needed most

Inflation has thinned consumers’ wallets, yet budget and midrange smartphones are losing ground just when buyers need affordable options most. Soaring component costs, particularly for memory chips, are making it harder for manufacturers to sustain a low-margin, high-volume business model. As manufacturers focus on expanding their premium foldable phone lineups, consumers are increasingly turning to repairs and secondhand devices. iPhone 17e surpasses 1 million won Rising prices for budget and midrange smartphones are putting further pressure on consumers. According to smartphone industry observers Monday, Apple raised the price of its entry-level iPhone 17e, released in March, by 16.1 percent on Thursday, from 990,000 won ($726) to 1.15 million won. The company repriced the existing model as it launched its new iPhone 18 series at substantially higher prices amid so-called “chipflation” driven by global chip shortages. Samsung Electronics has also raised prices for its entry-level Galaxy A series. The Galaxy A37, released in Korea in June, costs 598,400 won, up 19.8 percent from la