A new survey from Loup Ventures shows that 22% of iPhone users are planning to upgrade their current device this year to the latest model. In total, 42% are looking to upgrade to either the latest device or to the iPhone 8 or the iPhone X.
Of the 511 people were surveyed, 226 were current iPhone owners and 22% of this are looking to upgrade to the latest model before the end of 2018. This figure is down just 1% from the previous year, but it is up considerably on the year before that when only 15% were looking to upgrade as the iPhone 7 was rumored to be released.
However, while 22% have their eyes on the latest device, another 20% are also looking to upgrade to either the iPhone 8 or the iPhone X. This means 42% are looking to upgrade overall.
However, Loup Venture says growth will begin to settle:
“Lower growth, more predictable iPhone demand. Looking at the data over the past two years suggests annual iPhone growth will settle into a more predictable 1-5% range. The good news is a more predictable iPhone growth, albeit at a lower rate, should be a positive for AAPL’s multiple.”
This survey was taken with the knowledge that Apple is expected to be releasing three new iPhones by the end of the year. These could be the iPhone X Plus, a cheaper 6.1-inch model with an LCD display and an upgrade to the current iPhone X. The iPhone X Plus and the cheaper 6.1-inch model are likely to be particularly popular as another recent survey that we reported on earlier in the month showed that the biggest reasons why people aren’t upgrading are because the current iPhone X’s screen is not large enough and the phone is too expensive.