Apple buyers show willingness to pay more for premium iPhones
Recent surveys indicate that Apple (AAPL) customers are increasingly motivated by the age of their current devices as a reason to upgrade, with over two-thirds citing this factor. This shift is particularly notable because it aligns with growing demand for higher-end models like the iPhone 18 Pro and Pro Max, which together account for more than half of intended purchases. Apple's financial results reinforce these trends: in its fiscal third quarter ending June 27, iPhone revenue rose by 22% year-over-year to $54.25 billion. Over nine months, cumulative iPhone sales reached $196.52 billion—also up 22%. These gains were largely driven by strong performance from premium models. The combination of older devices in the market and Apple's push toward more expensive configurations suggests a potential for higher average selling prices. With new incentives like trade-in credits, Apple is making it easier to justify these pricier purchases.
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Topics: Apple average selling price consumer behavior iPhone sales premium models