Apple’s iPhones are getting more expensive which means that for iPhone owners looking to upgrade, doing so on an annual basis can be rather costly. However despite the costs, Apple customer upgrades appear to be remaining somewhat steady, according to a recent survey conducted by Gene Munster’s Loup Venture.

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According to the survey, it was discovered that 22% of current iPhone owners plan on upgrading to the new iPhones that will be released in 2018. This is slightly down compared to last year’s 23%, but a major improvement over 2016 where only 15% said that they were planning on upgrading.

However it should be noted that customers planning to upgrade versus those who actually do are two very different things. There could be a variety of factors that might have changed a customer’s mind prior to the upgrade. That being said, Munster claims that iPhone upgrades are starting to become so predictable to the point where he suggests that investors might start to see it as a subscription kind of model.

Some analysts have predicted that Apple will enjoy a supercycle with the launch of the iPhone X, although that doesn’t seem to have come to pass yet. However Munster is leaving open the possibility that it could still happen in FY19 where Apple is rumored to launch an even bigger iPhone X.

Filed in Apple >Cellphones. Read more about iPhone.

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