If you're considering a new phone, it might pay to act now. According to Nothing CEO Carl Pei, the best time was yesterday and prices are only going up.

Pei warns that RAM costs have doubled since the company decided on building its mid-range Phone 4A, with further hikes expected into next year. In a holiday season, discounts might be minimal due to these rising component costs.

The price of memory has become the most significant factor in smartphone manufacturing, often accounting for over half of the total hardware cost. For instance, it's now possible that Phone 4A launched at prices around $100 higher than its predecessor.

Pei advises against waiting for deals, noting that in shortages, memory is allocated rather than bought. This means you’ll get what’s available, at current rates.

In conclusion, Pei's warning might have come a day too late; with prices already on the rise, the best time to upgrade your phone was before you read this article.