Why Are 5G Smartphones Costly In Comparison To Other Smartphones?

Recent estimates suggest that India will have around 18% 5G subscriptions by 2025. As with any new network adoption, 5G penetration may take a few years in the country. Still, mobile phone companies are already offering 5G compatible handsets to consumers, even though there was no network carrier offering this high-speed connectivity as of 2020.

Moreover, although 5G supported smartphones are available in the market, most bear unaffordable price tags. Thus, if you are looking for the best phone under 15000, chances are you will not be able to find one with 5G compatibility.

Why are 5G Phones so Expensive?

To understand why 5G handsets are pricier than their counterparts, one would need to assess some of the underlying factors involved –

• 5G Compatibility is Limited to Premium-range Chipsets

Presently, 5G is a niche market with only a few carriers and locations across the world where one can utilise the true potential of this network’s speed. Thus, only the high-end SoCs come with the necessary technical specifications to support this network. Incidentally, most of these chipsets are used to power flagship devices. These 5G capable processors do not power even the best mobiles under 15000.

• Latest Technology Tends to be Expensive

Another important aspect to understand here is that any new technology when it arrives in the market tends to cost significantly more than its previous version. For instance, even when the 4G network was in its nascent stages, mobile phones compatible with that particular bandwidth were considerably pricier than 3G handsets.

However, over time, this trend changed, and even the best phones under 15000 started shipping with 4G support.

• Lack of Supply for 5G Smartphones

Even though the 5G network is in its early stages at present, demand for 5G compatible handsets is high since consumers want to future-proof their phones. Basic economics says that when demand exceeds the supply of a product, the price of that specific product tends to increase. With more companies planning to launch their 5G mobile phone range, this demand-supply gap should decrease in the coming years, leading to lower prices.

Unfortunately, only those with solid financial backing can afford 5G phones currently. Alternatively, Bajaj Finserv EMI Network Card users can also utilise their pre-approved credit offering of up to Rs.4 lakh to acquire these expensive smartphones, without overburdening their finances.

Bajaj Finserv EMI Network members can choose from more than 1 lakh partnered stores located in 1900+ cities in India to purchase their desired phones at no-cost EMIs.

Further, the pre-approved offers from Bajaj Finserv help simplify the card’s application process significantly. Such offers are also available on other financial products, including business loans, personal loans, credit cards and more. You can check your pre-approved offer by providing a few essential details.

Best 5G Smartphone Brands Available in India

If you have decided to avail of a 5G mobile phone, the following are some of the options you can consider.

• Samsung Galaxy Note 20 Ultra 5G

The Note 20 Ultra 5G is the latest flagship handset from Samsung, which features 5G network capabilities. Beyond this, it is also equipped with top-of-the-line specs, including an Exynos 990 SoC, 6.9-inch Quad HD+ display, 12GB RAM and 256GB of internal storage. Users also enjoy a rear triple camera setup, with a 108MP primary lens. However, one should be ready to shell out around Rs.1.05 lakh for this handset.

• Apple iPhone 12

Customers looking for a more affordable option can consider picking up the latest iPhone 12 from Apple. At around Rs.80,000, individuals can acquire the latest 5G compatible Apple smartphone. Besides its superfast connectivity, the handset is powered by an A14 Bionic chip underneath the hood which the company claims to be the fastest SOC in the market.

It is early to shift to 5G supported handsets since carriers have not started to roll out this specific connectivity as of now. Still, if you have proper financing options available, you can opt for the high-end handsets that support this specific network.