While long upgrade cycles have impacted the sales of tablets and laptops recently, our first Chart this week shows the significant number of smartphone owners who are intending to upgrade their handset within the next year.
That 59% of these device owners say they are looking to upgrade soon is certainly good news for the established smartphone brands, and also the many challenger brands that are emerging as legitimate alternatives. While this intention may not always result in a purchase, it’s still significant that figures remain high across all the age groups.
Although 25-44s lead the way here (with over 60% saying they want to upgrade within 12 months), it’s also close to half from the oldest age group (55-64s) who are looking to upgrade within the same period. And even though financial constraints clearly impact 16-24s’ spending power, it’s still 57% from this group who are planning to invest in a new smartphone within the next year.