CEO Hans Vestberg attributes longer smartphone usage to improved quality and features

  • Verizon CEO Hans Vestberg discusses how people are keeping their smartphones for longer periods due to improved phone quality and features.
  • Americans are projected to keep their smartphones for an average of 2.93 years by 2027, up from 2.53 years in 2015.
  • Apple plans to introduce new AI features that may cause a ‘supercycle’ of phone upgrades, but not necessarily good news for Verizon.

Verizon Communications Inc. Chair and CEO, Hans Vestberg, recently discussed in an interview with CNBC how people are now keeping their smartphones for longer periods due to the advancement of devices and software updates. Americans are projected to keep their phones for an average of 2.93 years by 2027, up from 2.53 years in 2015. Apple plans to introduce new AI features that may cause a ‘supercycle’ of phone upgrades, which could negatively impact Verizon’s growth. However, Vestberg stated that Verizon is disciplined about promotions and not overly concerned with the longer holding cycle.

Factuality Level: 8
Factuality Justification: The article provides accurate and objective information about the decrease in smartphone upgrading frequency due to improved phone quality and software updates. It also discusses the potential impact on companies like Apple and Verizon. However, it could have provided more context on the overall smartphone market trends and a broader analysis of the industry.
Noise Level: 4
Noise Justification: The article provides some relevant information about smartphone usage trends and their impact on companies like Verizon but lacks in-depth analysis or new insights. It mostly reports on recent statements from the CEO of Verizon and other industry experts without offering significant additional context or data to support its claims.
Public Companies: Verizon Communications Inc. (VZ), Apple Inc. (AAPL), Samsung Electronics Co. Ltd. (005930)
Private Companies: Statista,SellCell,MoffettNathanson
Key People: Hans Vestberg (Chair and Chief Executive)

Track all markets on TradingView

Financial Relevance: Yes
Financial Markets Impacted: Verizon Communications Inc. (VZ) and Apple Inc. (AAPL)
Financial Rating Justification: The article discusses the impact of longer smartphone holding cycles on companies like Verizon and Apple, as well as the potential impact on financial markets due to changes in consumer behavior.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the article.

Reported publicly: www.marketwatch.com