I somehow doubt that’s what’s going on. The referral link was created in April, and the link’s page states that the discount code will remain valid until August 26. The screenshot - taken yesterday, on May 9 - proves that the code still claimed to be valued at €50,- after April.
You might be able to enter a legal argument with Fairphone about what I think is simply their mistake to re-label the codes back to 25€ in time. However, I think I’d rather look into this month’s deal which on its own has a significantly higher worth (if you don’t want the earbuds, you might be able to sell them off to others for perhaps more than 50€) plus going by the smallprint it might even combine with the reduced discount code.
The May offer has been extended until 14 June 2022:
Someone who buys a product right on launch is always paying full price and a beta tester. If you buy it later, you usually end up paying less. However, when it comes to smartphones, you also get to enjoy it less because it will receive updates less long and its specs are already more out of date. In short, this is common practice in the industry.
Someone who buys the phone because of Fairtrade, where the concept is not based upon getting more for your bucks.
Stock and prices are there:
44.95 € Left replacement earbud
44.95 € Right replacement earbud
34.95 € Charging case
4.95 € Replacement ear tips
Please note the smallprint:
The individual earbuds only come with a set of medium sized ear tips.
So the complete set compiled from spares is 125 or 130 Euros. As I wrote elsewhere 1-2 weeks ago, spares are now the only way to get a set of black TWS earbuds.