Slowing Growth: Smartphone Upgrades Down 9%
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SeongJoon Cho/Bloomberg via Getty Images(NEW YORK) — Fewer of us are rushing out to buy the latest and greatest smartphone, according to a new study.
Analysts at financial services company UBS say the number of people who upgraded their device last year was down 9 percent from the year before.
Analysts say the slowing pace of innovation is to blame. They point out that the slowdown is trouble for Apple, AT&T and others, as those companies try to keep up the pace of revenue growth.
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