US Consumers Pay Over US$ 5 Billion Annually for Upgraded iPhones, according to Recent Study

23 Dec
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Not only are US consumers unable to get enough of the new iPhone released year after year, they also seem to be more than willing to pay a hefty amount for it. In studying the transactions conducted by over 20 trade-in companies throughout the years, SellCell.com found that on average, consumers upgrading to a new iPhone tend to pay more than US$ 130 in a single year. On the whole, the annual iPhone upgrade costs add up to a whopping total of US$ 5.4 billion, which is approximately half of what US consumers spend on all smartphone upgrades during a given year (US$ 11 Billion, according to the data collected by Market Watch).

“We’re a nation of mobile-phone lovers — obsessed with getting a shiny new device,” SellCell.com’s spokesperson, Craig Simmons, said of the trend.