Thinking about upgrading your iPhone, America? That will be $5 billion. At least according to a new study by SellCell.com.
And if you include upgrades to the other types of cell phones, the number is more around $11 billion.
Pretty staggering, considering that most upgrades don’t really do a whole lot beyond increase your “I-have-the-latest-model” status with your homies.
Almost a fourth of us splurge for the upgrade every year, MarketWatch reports. At an average cost of $77 — and a lot more for iPhone users — Americans rack up a nearly $4,000 upgrade bill in their lifetimes, the press release tells us.
“We’re a nation of mobile phone lovers — obsessed with getting a shiny new device whenever brands like Apple and Samsung put something new onto the market,” SellCell.com’s head of marketing, Craig Timmins, said in the press release. “But while it’s great to have the latest gadget, make sure you don’t get stung with high fees if you need to break your contract.”
So start saving, kids. That nifty Christmas gift is going to cost a pretty penny down the road. That is, if you’re cool.
And you’re cool, right?