Remember back in the good old days when technology was really expensive. Back in the 70s where the idea of a ‘personal computer’ seemed completely alien, and as for a phone whose least used ability was for making phone calls, it seemed like a world away.

Fast forward to 2020, and we have technological innovation coming out of our ears! Now we have laptops and smartphones, smart washing machines, room sensors, internet-connected cameras, wifi-enabled cars, and a whole host of things we could never cover in this small article. Still, there is one common theme you may have noticed when you’re looking at everything: it’s all getting cheaper.

Why Tech Is Getting Cheaper

We look at five reasons why the technology that we love is getting cheaper, and how you can grab a bargain!

Lack Of Innovation

One of the main reasons why technology seems to be getting cheaper is that, for many things, there is now a lack of innovation.

Of course, there are many parts of the technological world where innovation is happening rapidly, but for consumer electronics like smartphones, the pace has definitely slowed down. This does mean good news for us, however, as we can now expect big retailers and technology giants to lower their prices for the average person to afford. So go on, nip over and grab a Samsung discount code, and make the most of a great quality phone with great quality savings attached to it!

Cheaper Hardware

Cheaper hardware is playing a major factor in the price of technology coming down. It’s cheaper to build and cheaper to make, which means those savings get passed on in the form of cheaper products to buy, which is a win-win all around!

Moore’s Law

Moore’s Law states that the number of resistors on a microchip doubles every two years. This means that chips are getting smaller, tech is getting smaller, and smaller tech is generally cheaper tech.

This can’t happen indefinitely, but, so far, there seems to be no signs that Moore’s Law is slowing or getting in the way of more technological breakthroughs or breakthrough pricing!

Manufacturing Advances

Moore’s Law is generally made possible because of advancements in manufacturing. As manufacturing moves away from a human reliance and onto more of reliance by humans, the quality and consistency of the product is improving

Humans are, by their very nature, flawed creatures who can get tired and need sleep or food. Robots don’t have these problems and frequently replacing humans in many manufacturing jobs allowing us to explore different possibilities, more possibilities than ever before.

Overseas Competition in Sales

Perhaps one of the biggest reason that tech is becoming a lot cheaper is the competition from other countries.

Countries like China, where a vast majority of the technology we love is made, have been opening their borders and their countries more and more over the last few years for trade on a business to business level, but also for trade on a consumer level. This has been great, especially for electronics.