The market for mobile phones is swiftly becoming the dominant computer and an electronic communication product in everyday lives. The market has created several different venders for this product to sell. The major venders AT&T, Verizon, T-Mobile and Sprint which sell different styles and brands of mobile devices for the customer to purchase for a healthy price. An anonymous reporter stated that “The mobile phone market saw temporary calm in the beginning of 2005 the whole mobile phone market was static. Mobile phone manufactures launched the MP3 mobile phones one after another, along with potential demand from consumers. It is forecasted that the sales volume of the MP3 mobile phone will account for more than 58% in the whole mobile phone market in 2007, about 62 million sets, and the popularization trend has been clear” (The mobile phone, 2007). When it comes down to supply and demand of the mobile cell phone versus the equilibrium price keep in mind how important and expensive mobile phones are. The significance of mobile phones in recent civilization have become a requirement and almost a need for many people to live.
Earlier I discussed a few reasons why people like using the mobile cell phone far as easy access to internet for work or even handling important discussion with family and friends. When mobile phones hit the market overtime the consumers wanted more that is why the manufactures came up with texting, loading data and camera phones. There were small issues with the mobile phone far as signal but over time reception improved and now there are satellites and towers all over to accommodate the demand for mobile phone usage.
Manufactures promote the product with incentives like the more lines you get the lesser the price or more data. The reputation of mobile phones has amplified the struggle in the wireless communication of electronic business creating mobile phones that are affordable and easy to use. Think about everywhere you go someone is on their phone, your grandmother probably has a phone with a Facebook account. Mobile phones are a part of our lives and make it very convent for people. The mobile phone demonstrates how enhanced technology is and improved supply can lower prices as the demand rises.
The price of a mobile phone has reached the amount demanded to balance out the amount supplied.