Customers Are Not Likely to Pay $1000 for a New iPhone — Survey

According to a Barclays survey, only as much as 11% of customers are ready to buy a new iPhone for more than $1000.

The survey showed that most of the customers are ready to pay $582 for the new smartphone or pay $50 monthly. Only 18% of current iPhone users would spend $1000. This is not good news for Apple.

However, iPhone 7 Plus is priced more than $1000 including taxes and the customers still purchase it. Besides, Apple is going to launch iPhone 7S and iPhone 7S Plus models that will be cheaper than the OLED iPhone 8. This may satisfy customers who don’t want to pay extra.

Apple can also benefit from the iPhone Upgrade Program and offer a possibility to have a new iPhone every year by paying monthly. The price $50 per month will be an affordable alternative for the one-time payment of a huge amount.

[via CNBC]