Record Number of Consumers Waiting to Upgrade Their Cell Phones
- Lack of exciting new features, $1,000 price tags hamper sales
- And that’s bad news for Apple and other device manufacturers
Photographer: Nelson Ching/Bloomberg
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Wireless customers are hanging on to their old phones longer than ever.
That’s the message from Verizon Communications Inc., which said its upgrade rate fell to a record low last quarter -- a harbinger of tough times ahead for the iPhone and other devices.