One in 10 phones will have $1,000 price tag in five years’ time

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Sales of $1,000 phones are expected to surge in the coming years despite the lacklustre response to Apple’s latest iPhone model. 

Devices costing four figures or more will make up one in 10 sales by 2023, Deloitte has predicted in a new report, as technological advances allow them to ­replace desktop computers for many people in the workplace.

In November, Apple became the first mass-market manufacturer to release a phone that broke the $1,000 (£740) barrier with the launch of the iPhone X.

The device costs as much as $1,249, or £1,149 in the UK with other manufacturers expected to follow suit in 2018. The growth of more expensive ­mobiles means the average selling price of a smartphone, which has been in decline for years as sales have boomed in emerging markets, will ­begin to increase again. 

Average prices fell to a low point of $305 in 2015, but rose to $324 in 2017 and are predicted to hit $350 in 2023. Of the 1.85bn smartphones that are forecast to be sold that year – a 19pc increase on 2018 – 180m will cost more than $1,000.

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