Good news for smartphone makers: Shoppers in both the U.S. and China are desirous to get their hands on new, speedier 5G phones. However, they’re additionally hot on the prospect of faster and wireless charging. And within the U.S., not everyone knows what 5G is.
Those are a few of the conclusions of a new Citigroup survey of 1,000 customers, reported in an analysis note on Tuesday morning. Citi responded to the outcomes, in part, by lifting its outlook for cellphone sales in both 2020 and 2021 in anticipation of intense shopping for 5G devices.
The survey discovered that 87% of Chinese consumers and 59% of those within the U.S. say they definitely or most likely will purchase a new smartphone in 2019. More than 70% of Chinese buyers stated they might replace their present phones to adopt 5G. The survey additionally discovered high consumer curiosity in both superfast and wireless charging, within the two nations.
Within the U.S., only 64% of survey respondents had heard of 5G, and awareness differed by gender: 76% for men, 51% for ladies. Awareness was lower within the Midwest and the South than in other elements of the nation.
When considering which phone to buy, the United States and China customers have different priorities, the survey discovered. For China buyers, the greatest concerns are processor speed, memory size, and software stability. U.S. consumers are focused on durability, memory size, and camera quality.
Citi raised its expectations for 2020 phone sales to 1.42 billion units, from 1.38 billion. It stated it now expects sales in 2021 to achieve 1.44 billion units, up from 1.41 billion.