Back in the day, we upgraded our phones pretty much every two years. However, smartphone technology seems to be peaking where the performance jump from each version is getting smaller, not to mention the prices of our phones are also getting out of hand, where phones are now priced $1,000 and above.

This is why it doesn’t come as a complete surprise to learn that according to a recent survey conducted by Strategy Analytics, it has been revealed that the smartphone upgrade cycle is getting longer than before. Based on their survey, they found that the average upgrade cycle in the US is now at 33 months, meaning that customers on average upgrade their phones once almost every 3 years.

Of course, these upgrade cycle varies from brand to brand, where for Apple devices, the survey found that the average iPhone is active for 18 months, while the average Samsung phone is active for 16.5 months. Age also plays a role in determining upgrades, where those aged 55 and above tend to keep their phones for longer, while those who are younger are found to upgrade more often.

According to Strategy Analytics Senior Vice President David Kerr, “Operators and device brands face significant inertia given consumer perception of diminishing innovation or marginal value add in successive generations of flagship devices. At the same time vendor pursuit of profitability has seen smartphone prices rising toward and above $1,000. Prices for 5G phones will be a key barrier despite 1 in 4 recognizing it as being important for their next device.”

Filed in Cellphones >General. Read more about . Source: fool