PED30 Reports that 23% of current iPhone owners were planning to upgrade to the iPhone 12, when Piper Sandler conducted its survey late last year, a new show suggests that 10% of owners still plan to do so Huh.
In our survey of 1,000 Americans, only 10% of respondents expect to buy / upgrade a new 5G iPhone this fall / winter. In addition, only 10% of current iPhone owners expect to upgrade their devices. Results are lower than expected before major product announcement at today’s Apple event and less than a prior survey suggesting 23% of current iPhone owners would buy a $ 1,200 5G iPhone
It is certainly not at all surprising to see a drop in interest from pre-coronovirus times. Many have lost their jobs, seen their hours cut, or are simply unsure of their financial future.
Additionally, the bank named a price point of $ 1,200, while prices for the new model are expected to start at $ 699, about half the price quoted in the survey. Thus the actual purchase is likely to be much higher than the forecast, even in the current climate.
The bank states that the average age of iPhones owned by respondents is 2.3 years, which is now below the typical upgrade cycle of three years. This means that owners will need to see a particularly good reason to upgrade quickly. The primary reason for those planning to upgrade is either to get 5G, or simply because they consider their existing phone to be in need of replacement.
Piper Sandler also found that interest in upgrading to a new Apple Watch was limited, although the new SE model helps.
About a quarter of respondents get the price in the new Apple Watch 6, but only 8% plan to upgrade / buy one. In addition, 12% of those surveyed said that the new low-priced Apple Watch SE makes them more likely to buy the Apple Watch.
Finally, the iPad is more interested in spending more time at home, and looking for additional entertainment options.
Regarding the iPad, ~ 15% expect to buy a new iPad soon due to recent lifestyle changes, given an impressive amount where we are in an epidemic.
As always, real-life upgrading behavior in large part will depend on how impressed or excited people are when the devices are announced, and we’ll realize it later today.
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