Colombians take more than 3.5 years to replace their smartphones, compared with the annual replacement cycles seen in the past, according to the analyses by IDC and Counterpoint Research. The shift is significant because it is changing the competitive dynamics of the technology market.
The longer replacement cycle coincides with an 11.8% year-on-year decline in imports and demand for computing and telecommunications equipment, according to the Fixed Investment Indicator published by the National Administrative Department of Statistics (Departamento Administrativo Nacional de Estadística, Dane).
Although the slower replacement cycle is also linked to financial considerations, the trend reflects increasingly demanding consumers. Users are looking for durable devices, batteries that can maintain their performance and features that offer substantial improvements before making a new purchase.