Fewer than 10% American purchasing smartphones priced over $1,000: Report

A dismal under 10 per cent of American smartphone users are spending over $1,000 on their smartphones and since these users will be the target audience for 5G devices, which typically hit the market around the $1,200 price tag, this brings into question how quickly they will upgrade to 5G, says a new report.

According to market research firm NPD Group’s “Mobile Phone Tracking service” report, though the majority of consumers have not fully embraced devices at these high-end price points, those in the top 10 DMAs account for more than one-third or 39 per cent of $1,000+ active smartphones.

“Consumers are holding onto their smartphones for longer periods, which has presented a challenge for the smartphone market,” Brad Akyuz, Executive Director, Industry Analyst, NPD Connected Intelligence, said in a statement.