Ask yourself – do you really have the luxury of needing to spend a thousand or more dollars for the latest and greatest smartphone? Just because it has a few more camera lenses on the back? Let’s face it: most of our current smartphones are more than good enough to serve our day to day needs. You’re not the only one holding out for a bit: the smartphone replacement cycle has increased from 23 months in 2016 to 33 months in 2019. In short, our smartphones are lasting longer, and this is great news for the environment. Let’s explore the phone repair economy.
How big is the phone repair market, you may wonder? This year alone, Americans are expected to spend $4 billion on phone repairs as compared to $59 billion on new phones. Fixing your phone has a big impact on the environment – on average a smartphone screen breaks at the rate of 2 every second. 95 million smartphones are damaged every year, which translates to $29.8 billion in damaged devices. 72% of people have a broken smartphone and not enough are taking steps to protect their phones in a better manner: only 55% add or upgrade their cases after a break.
Learn more about the smartphone repair economy in the visual deep dive below: