Smartphone Upgrades Accelerate with AI Demand

A recent survey by Citi found that consumers are planning to replace 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 across all regions.

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

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