Indeed, you are totally correct. Every market has the small high end area.
Microwave ovens were expensive, the tech matured, the prices came tumbling down of models that most people find are good enough. Spending many hundreds of dollars on a Microwave is not the norm now.
Microwave ovens were expensive, the tech matured, the prices came tumbling down of models that most people found were good enough, but you could still buy a high end if the very small sector wanted it.
DVD Players, just the same. They started out dear, the cheap ones got so good, that how many will spend many hundreds of dollars for one now?
It happens again and again, I don't see todays Smartphones being any different. Every year the cheaper ones get better, and it's going to be harder and harder to make the reasons why you need to spend out for the high end model.
Sure, there will always be a market for the $1000 Smartphones, but its going to shrink and shrink and shrink.