Nearly 30% fewer iPhone users plan on buying the upcoming model

While hype around the iPhone 11 release increases, not everyone is planning on actually buying the new device.

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While iPhones have historically been more popular than Androids, the upcoming iPhone may not be as desired as previous models. WalletHub's 2019 iPhone survey found that 28% fewer people plan on buying the new iPhone this year than last year. 

SEE: Get more done with your iPhone: Tips and tricks for power users (free PDF) (TechRepublic)

Apple is set to release three new iPhones at their annual event on September 10 in Cupertino, CA. The smartphones, likely to be named iPhone 11, iPhone 11R, and iPhone 11 Max—as reported by our sister site ZDNet—is rumored to have an impressive triple-rear camera upgrade, bilateral charging, faster processing, and larger batteries.

However, iPhone users aren't as eager to ante up for this model, the report found. With iPhones now surpassing a $1,000 price tag, shelling out the money for a new model every year can be difficult.

The report found that 144 million Americans only buy a new phone once their current device breaks, instead of holding out for a good deal or new model. 

Not to be misunderstood, iPhone users are loyal: Nearly four out of 10 users said they would spend at least $200 extra for an iPhone over an Android. Millennials are especially more likely to spend the money, with 41% of millennials, on average, willing to spend more than baby boomers for a new device. 

The pricier the iPhone, though, the more hesitant the buyer, the report found. Almost all respondents (94%) said new phones are becoming far too expensive; And nearly half (47%) of people said cost is the reason they won't get a new phone. Hefty price tags are especially difficult for younger generations, even though they are the most likely to spend more, despite most still being in student debt.

While 64% of users said they would rather pay for a phone upfront than in installments, most can't, the report found. Some 80% of users said they wouldn't spend more than $500 upfront on a phone. 

For more, check out How to get the best deals on Apple iPhone XS, XS Max, and XR before the iPhone 11 arrives on TechRepublic. 

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