The next time you’re in a waiting room or on public transit, try to spot someone who isn’t gazing at a phone. It’ll be a challenge.
According to a report from GSMA, smartphones accounted for over half of total connections globally in 2017. And today’s already high adoption rate is expected to keep climbing through to 2025.
But today, due to a combination of rising price tags, the disappearance of the once ubiquitous contract structure, and more resilient – yet incrementally improving – devices, consumers are putting off upgrades on buying high-end mobile phones. So much so that in the two largest smartphone adoption markets (US and UK), consumers are upgrading once every 30 months, a full eight months longer than they were just two years ago. It appears the smartphone super cycle has hit its peak.
Yet despite these observations, we believe the situation isn’t as challenging as many reports make it out to be. Our whitepaper, “Replacement Fleet”, details why this is the case, and focuses on the role mobile leasing service providers will play in the handset replacement cycle’s future.
Download the whitepaper here to find out more.