Are consumers becoming fatigued from yearly iPhone releases?
PITTSBURGH (KDKA) - Apple is about to launch its new iPhone 15. But are customers ready to buy it?
As KDKA money editor Jon Delano reports, some industry analysts think many people are done with shelling out more money, year after year, for the latest, greatest cell phone.
It's as regular as pumpkin spice latte – a new Apple iPhone with every phone hyped as bigger and better than last year's version.
This year, it's the iPhone 15, but will it sell?
"At the end of the day, we may be getting to a point where there's just a law of diminishing returns in terms of what consumer value will be," says Michael Gartenberg, now an independent analyst after working as an Apple marketing team leader.
Gartenberg thinks most smartphone users are not as quick to switch phones every year or two as they once were.
"I expect more consumers are going to be holding on to their devices, probably for a little longer than they might have in the past because there is both a lack of differentiated innovation – things that customers can actually notice and use – along with higher and higher prices," says Gartenberg.
Nothing is official about the iPhone 15, but industry analysts think the new phone will be about $100 more, with a new color and a lighter, stronger titanium shell, longer battery life, and new camera features.
"Those changes have become more marginal in recent years," says Josh Lowitz, co-founder of Consumer Intelligence Research Partners.
Lowitz studies consumer reactions to electronics, like cell phones. Gone are the days when consumers lined up for blocks to purchase the latest phone. Lowitz thinks the market for the iPhone 15 Pro may well be saturated.
"This doesn't feel like an earth-shattering moment in time. There isn't a huge installed basis of people whose phones are so aged that they need to get the next phone," notes Lowitz.
Of course, there are always those who want the latest electronic device no matter what, and Apple is counting on that to sell its iPhone 15.
"Never underestimate the power of Apple marketing and the consumer," adds Gartenberg.
If you feel ready for a new phone, details about the iPhone 15 will be unveiled next Tuesday, Sept.12, or you can wait until your phone needs an upgrade.
