As Apple launches the iPhone 16 models, the folks at Consumer Intelligence Reports (CIRP) has updated its analysis of the age of previous phones.
The latest CIRP data shows that over the past year, more than one-third of new US iPhone buyers owned their previous phone for three years or longer, while just under one-third owned their previous phone for two years or less. Note this data includes buyers with either an iPhone or Android phone as their previous smartphone.
The share of iPhone buyers with a phone that is two years old or more increased slightly from 2023, from 64% to 67%. Five years ago, 61% of buyers owned a phone that was two years old or more.
CIRP has shown before that new features, such as the ones Apple promotes at its annual launch, matter less to buyers than the condition of their current phone. As phones become more reliable and durable, that lengthens the time iPhone owners feel they can keep and use their current phone.
In addition, reliance on installment payments for new phone purchases makes keeping a paid-off phone a welcome reprieve. Depending on purchase incentives, installment contract length, model, and configuration, after their final payment many iPhone owners enjoy a decrease of $40 or more in their monthly cell phone expense.
“In past years mobile carriers have offered generous incentives to motivate current smartphone owners to upgrade to the latest iPhones,” says CIRP. “That was most evident when the newest iPhones brought 5G network connectivity. That sped up download speeds for users, and more importantly helped the mobile carriers expand their capacity and utilize their new investment in the 5G technology. Without a similar carrier motivation, we expect the current trend toward owning phones for a longer time to persist.’
Article provided with permission from AppleWorld.Today