Apple has apparently scrapped production plans to boost output for the new phone as demand allegedly isn't there to justify it. This doesn't mean that it hasn't been selling though.

The demand for the iPhone 14 Pro looks to be higher than other entry level handset options but it does look like things might be headed in a different direction now.

At a time when most people cannot pay many of their bills and comfortably keep food on the table we aren't likely to see them going out to spend hundreds on a new phone, are we?

Prior to the pandemic we saw that users were often waiting longer before moving to upgrade their device. Now things could be even worse because of inflation and the increasing cost of living. A new phone isn't high on the priority list for many, not if their current one is working just fine for them.

Unwilling to take on debt for new phone

One previous national survey suggested that many Americans were willing to go into debt to get a new phone.

But have things changed maybe?

Another recent survey suggested that about 1 in 5 might think it is a good idea to go into debt to get a new phone.

There are said to be millions of Americans who are living paycheck to paycheck and they don't have enough set aside even for a small emergency that could be hundreds of dollars.

Will a new phone be high on the list?

There are millions of others around the world just struggling to keep their current bills paid and a roof over their head.

The continual phone upgrade culture isn't for everyone.

The more that people struggle with that cost of living it will mean holding onto things like their cars and phones longer, especially when they don't see justified benefits to making the switch. This looks to be what we are already seeing in the market and the trend has arguably been growing for some time.

Pics:
pixabay
This is not financial advice.
Sources:
https://www.cnbc.com/2019/05/17/smartphone-users-are-waiting-longer-before-upgrading-heres-why.html
https://www.cnet.com/tech/mobile/billions-of-people-globally-still-cant-afford-smartphones-thats-a-major-problem/
https://www.cnet.com/tech/mobile/getting-a-new-iphone-every-2-years-is-making-less-sense-than-ever/
https://finance.yahoo.com/news/apples-falling-i-phone-demand-isnt-as-bad-as-it-sounds-212120476.html
https://mashable.com/article/iphone-7-survey