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

23 Dec

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, 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,”’s spokesperson, Craig Simmons, said of the trend.