Reported that less than 10% of consumers spend more than $1,000 on smartphones

According tomedia Techspot, the recent smartphone upgrade cycle has slowed down. But Brad Akyuz, executive director and industry analyst at NPD Connected Intelligence, points out that 5G is expected to spur a super cycle of upgrades, but prices could be a major obstacle.

Reported that less than 10% of consumers spend more than $1,000 on smartphones

High-end smartphones have been selling for about $1,000 for the past two years. Less than 10 percent of consumers who spend more than $1,000 on smartphones, according to NPD Group’s new “mobile tracking” service.

Given the high cost of supporting 5G’s flagship products – the early example is usually around $1,200 – and the trend is unlikely to change in 2020, some worry that sales of 5G phones may not surge as initially expected.

Reported that less than 10% of consumers spend more than $1,000 on smartphones

However, according to NPD’s Mobile ConnectReport report, three-quarters of consumers already know about the new technology. In addition, a third of smartphone users have expressed interest in buying 5G-enabled phones.

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