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Fancy phones are the new object of revenge spending
High-end phones such as Apple’s iPhone 14 line are luring consumers while the market for cheaper devices remains in a slump
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To many, Apple’s flagship devices are not fancy, they are the default gadget that benefits from an annual upgrade.
PHOTO: REUTERS
Tim Culpan
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When the world started to emerge from pandemic lockdowns and curbed travel, millions of well-heeled consumers dusted off their credit cards to engage in revenge spending. High-end handbags, shiny diamonds and top-shelf champagne were the objects of desire.
Add fancy phones to that list.
