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How does this change affect the market for cellphones

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Reference no: EM133600250

Question: "Average global smartphone prices [are expected] to [fall] into 2018 and that includes prices for Apple's iPhone. That prediction comes from IDC, which says the average, unlocked selling price worldwide of an iPhone this year will be $657. In 2018, that price is expected to fall to $604." How does this change affect the market for cellphones? What determinant of demand or supply changed?

Reference no: EM133600250

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