Will Consumers Pay $1,000 or More for a New iPhone?

Consumer Electronics

Published: August 27, 2017 8:59 am

Last Updated: January 12, 2020 8:44 am

There has been speculation for months now that when Apple Inc. (NASDAQ: AAPL) announces its new iPhones next month, the top of the line model will come with a price tag of $1,000 or more attached. There are even rumors that an iPhone priced at $1,400 is possible.

Two-thirds of consumers think that’s too much to pay for a phone. But iPhone owners are a loyal bunch — nearly 80% say their next smartphone will be another iPhone. When asked why, two-thirds say their believe the iPhone is the best smartphone on the market and 41% say they are too familiar with the iOS operating system to change.

Market researchers at Fluent surveyed more than 2,100 adults to find out how likely it is that they will pay the nosebleed level prices that are being bandied about for a new iPhone.

Here are some highlights from the survey:

Among current iPhone owners, 46% have previously owned at least four iPhones
40% of iPhone users say their next phone will be an iPhone 8 while 19% say they will purchase an iPhone 7S Plus and 17% say they will purchase an iPhone 7 next.
25% of iPhone users say the most important factor in their next purchase decision is the Apple brand; price is important to 29%, the lowest percentage among any smartphone maker
iPhone owners care least about camera quality (5%) and most about long battery life (65%)
Among those who plan to buy an iPhone 8, 9% plan to buy the day of the launch, 7% within a month of the launch, 15% sometime in 2017, and 39% sometime next year. Nearly a third aren’t sure.

Visit the Fluent website for more details and full methodology.

ALSO READ: Samsung Sells Twice as Many Phones as Apple in Q2

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