Following the turn of a new year, iPhone buyers tend to choose the less expensive models — but that’s not the case in 2023.
Historical data shows that people who buy an iPhone later are more likely to choose a more affordable model, according to a new report from Consumer Intelligence Research Partners. Since the firm began tracking it in 2015, the weighted average retail price of iPhones sold in the US (US-WARP) has decreased each March quarter.
But US-WARP for the March 2023 quarter hit a new high of $988, and the price of the average iPhone purchased in the US is close to $1,000. Trade-ins and promotions can lower consumers’ costs, but they still choose expensive models.
Additionally, since the iPhone trade-in market is generous since Apple devices hold onto their value for a long time, it can reduce the expense of a new model and may encourage people to choose a premium iPhone.
This story originally appeared on Appleinsider
