A significant number of Android users who switch to Apple Inc.'s AAPL iPhone are opting for older models, prioritizing value over the latest technology, according to the latest analysis by Consumer Intelligence Research Partners or CIRP.
What Happened: An analysis by CIRP revealed that a substantial portion of iPhone buyers, about 10% to 15% of the total, are former Android users. These switchers are showing a preference for older iPhone models over the latest offerings.
"Overall, Android switchers, who represent 10-15% of iPhone buyers in a given quarter, tend to buy older and thus less-expensive models," the report stated.
Over the 12 months leading up to December 2023, 29% of these switchers chose the iPhone SE, iPhone 12, or iPhone 13 models, compared to 21% of existing iPhone users who upgraded to the same. Interestingly, a significant number of Android switchers also purchased higher-end iPhone models.
The analysis of iPhone 14 and 15 Pro and Pro Max models in 2023 revealed that 37% of Android switchers opted for these premium versions, compared to 43% of existing iPhone users.
Two primary factors drive the trend.
Firstly, many Android switchers use less expensive Android devices, making transitioning to similarly priced iPhones a more comfortable financial decision.
Secondly, the appeal of entering Apple’s “walled garden,” with its exclusive features like iMessage and FaceTime, provides a perceived value that doesn’t necessarily require the latest and most expensive iPhone.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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