Citi Survey Reveals Shorter Smartphone Upgrade Cycles and Growing Demand for AI Devices

A recent survey by Citi reveals that consumers are planning to upgrade their smartphones more frequently than in previous cycles, with holding periods shortened to 2.1-2.7 years from 2.9-4.3 years previously.

The trend is being driven by demand for AI-enabled devices, particularly among owners of older iPhones seeking access to intelligence features.

According to the survey, Apple purchase consideration exceeded current ownership levels across markets, supporting potential share gains for the company.