Finding the Right Time to Upgrade Your iPhone
The two-year upgrade cycle is a relic of the past.
— -- When it comes to smartphones, the two-year upgrade cycle from carriers is a relic of the past so, as a result, many people are holding on to their iPhones longer than ever.
Citi analyst Jim Suva wrote in a memo that the typical iPhone upgrade cycle is now 28 months and could extend to three years in the future, according to Apple Insider. The trend was also reflected in Apple's second-quarter results, which were reported in April and showed the first-ever sales slump for Apple's flagship product.
With Apple likely holding its annual iPhone release in September, customers who have passed that two-year mark and are ready for a replacement are left in limbo for the next two months wondering whether to upgrade now or whether the rumored iPhone 7 is worth the wait.
The easy answer: If your phone works, wait. People who aren't interested in the newest iPhone can still look forward, come September, to the company’s continuing its usual practice of reducing the cost of older-generation iPhones.
"The smartphone upgrade decision is situational and a very personal decision," Patrick Moorhead, an analyst at Moor Insights & Strategy, told ABC News. "If smartphones seem very expensive, the consumer doesn’t need the leading edge. And if their phone still 'works,' it makes sense to wait to get $100 to 200 off the phone they want."
The speculation is that Apple will remove the headphone jack in the new iPhone, which would make the phone skinnier and improve its water resistance, sources told the Wall Street Journal.
While Apple hasn't commented on the new iPhone rumors, Moorhead said consumers can likely bank on "big improvements in the camera, wireless speed and potentially even improved water resistance."
"Additionally, as we have seen with every new smartphone,” he added, “I expect a much faster processor, making the phone more responsive.”