iPhone 16 series was launched by Apple earlier this week at its annual September event. Although Apple has been launching a range of iPhones for the past 5 years, it turns out that existing iPhone users are holding on to their devices for longer than ever. As per a recent report by Consumer Intelligence Research Partners (CIRP), more than one-third of new iPhone buyers in the US have been using their previous phones for three or more years. The report further reveals that the percentage of iPhone buyers using phones that are two years old or more has risen to 70% in 2024 from 66% in 2023.

The percentage of iPhone users who owned their previous phones for two years or more before upgrading increased steadily from 64% in 2019 to 66% in 2024.

In 2019, 38% of iPhone users upgraded their phones within 2-3 years, and 26% kept their phones for three years or more. By 2024, the percentage of users holding onto their phones for three years or more increased to 34%, while the percentage upgrading within 1-2 years decreased from 28% to 25%.

"In addition, reliance on installment payments for new phone purchases makes keeping a paid-off phone a welcome reprieve, CIRP explains. "Depending on purchase incentives, installment contract length, model, and configuration, after their final payment many iPhone owners enjoy a decrease of $40 or more in their monthly cell phone expense." the report reads.

Apple Intelligence may drive the sales

Several analysts believe that the new Apple Intelligence features will drive a surge in sales of the new iPhone 16 and it turns out that Apple has pushed the production of the device by 10% this year. As per the report, the Cupertino-based company is aiming for a total output of 90 million ?iPhone 16? series models.

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