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Study shows consumers keep their smartphones longer before upgrading

With the constant introduction of new smartphone innovation from the biggest tech companies, a research shows that one in four (25 percent) smartphone consumers in the US keep their device for more than three years before upgrading, a rise from 2016’s 18 percent rate.

According to the data released by NPD, the latest Mobile Connectivity Report shows that 29 percent had their current device for two years or longer.

Less than one-fifth of smartphone owners meanwhile said that they were ready upgrade their device during the first half of 2019.

According to Brad Akyuz, executive director, industry analyst, NPD Connected Intelligence, the emergence of 5G could help boost upgrade cycles.

“Rising price tags, extended longevity of new generation devices, and lack of innovative features beyond imaging enhancements, are a few factors reducing consumer motivation to upgrade,” said Akyuz.

“The emergence of 5G could help to accelerate upgrade cycles, as consumers will look to leverage faster speeds for mobile entertainment, but despite strong consumer awareness, this is expected to be a longer-term result,” he added.

According to the report, 64 percent reported awareness of 5G service and innovations at the end of the second half of 2018, higher than the 44 percent rate at the end of the first half of 2018.

With the increase in awareness, 33 percent of smartphone owners report interest in purchasing a 5G-enabled smartphone, with millennials as the highest potential consumers as 49 percent indicated interest.

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