According to a report published September 1, 25% of US adults are interested in a foldable Apple smartphone, but most are not willing to pay the estimated $2,000 price tag analysts predict for the device.
The survey, which polled 2,605 US adults, found that three out of four adults are indifferent to buying a foldable Apple device, such as the rumored iPhone Ultra.
On average, US adults are willing to spend $781 on a new foldable iPhone, which is less than the starting price of the base model iPhone 17.
Demographic data shows Gen Z is willing to spend the most for a foldable iPhone at an average of $919, followed by Millennials at $859. Gen X and Boomers expressed lower average spending limits of $690 and $572, respectively.
Interest in the foldable device varies by generation. While 25% of US adults want a foldable iPhone, 83% of Boomers and 77% of Gen X express the least interest. Among younger generations, nearly 70% of Gen Z and 68% of Millennials are not interested in a foldable iPhone.
A memory chip shortage, also known as the RAM shortage, is impacting the upgrade plans of 41% of US adults. This shortage has led tech companies to raise prices on devices, with Apple having raised prices on many devices in June.
Some consumers are weighing alternative options due to these price increases. These include considering older or less expensive models, switching brands, or purchasing refurbished or used models. Additionally, 9% of respondents will only upgrade if a trade-in or carrier promotion covers the cost.
The RAM shortage and subsequent price hikes are causing many to delay upgrades. Ten percent of US adults plan to delay their upgrade, while 9% are holding onto their current phones longer than originally planned.
Overall, 22% of US adults do not plan to upgrade anytime soon. This sentiment is shared by 19% of Gen X and 27% of Boomers, while 16% of Millennials and 21% of Gen Zers do not have plans to upgrade.
