Final week we noticed a report from CIRP on Apple reaching an all-time excessive iPhone common promoting worth. Immediately, the agency launched a examine exhibiting how lengthy Apple customers are protecting their iPhones earlier than upgrading, right here’s what the outcomes present.
Whereas Apple scored a brand new iPhone common promoting worth document close to $1,000 and noticed a document March quarter this 12 months for iPhone income, the new report from CIRP suggests the corporate may see slowing demand for its smartphones.
From 2019 to 2021, Apple clients stored their telephones longer and longer with 34% of them having an iPhone that was three years of age or older.
Curiously, that development appeared to abruptly reserve in 2022, nevertheless, the most recent information from March this 12 months exhibits the vast majority of Apple customers reporting they’re holding onto their iPhones for 2-3 years or longer.
March 2021 was nonetheless the height for the typical age of iPhones however the 2023 outcomes are shifting again close to these numbers.
In rationalization of all of the upgrades that appeared to occur in 2022, CIRP believes it was doubtless a mixture of COVID-induced iPhone purchases, authorities stimulus checks, “and the interruption of journey and leisure spending helped customers afford newer fashions.”
The report additionally highlights that these elements might have lined up with “extra aggressive trade-in applications that provided distinctive worth for comparatively new used telephones as effectively.”
We’ll have to attend and see how this development of protecting iPhones for longer performs out within the months and years forward.
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