In what could simply be a case of hitting a speed wall, the latest sales figures indicate that smartphone sales began a decline in 2017, with sales in the US declining for the first time in 2018. Market saturation is nearing 100%, and everyone who wants a smartphone has a smartphone. Phones are now like cars, which you don't really replace as often anymore, since the new phone won't be significantly better. So people won't be buying a new smartphone unless they have to, and when they do, they're more likely looking at the previous year's model or the lower end model like the iPhone XR, which is Apple's best selling model right now. Leo also says that's why the prices are going up on phones, to make up for the loss in sales.