While younger customers seemingly can wait to repair or replace a broken or lost iPhone for longer than the folks at Counterpoint Intelligence Research Partners (CIRP) expected, they’re not waiting to upgrade to the latest models.
Despite the cost and the relatively longer useful life of an iPhone, the younger iPhone owners move to more current models more quickly than their older counterparts, according to CIRP. The research group analyzed customers that purchased a new iPhone in the 12 months ending in December 2022, and looked at the age of the iPhone they had before their newly-purchased model.
“The differences between the youngest and oldest consumers are stark. 45% of consumers in the 18-24 year-old range had their previous phone less than two years, about three times the percentage of 65+ year old consumers,” reports CIRP. “65% of those consumers in the 65 years old or more group had their previous phone for three years or more, about two-and-a-half times the percentage for the 18-24 year old group.”
Article provided with permission from AppleWorld.Today