Breaking down the $4 Billion phone repair economy

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Before you feel the urge to splurge on the latest and greatest smartphone, consider that the piece of tech you’re holding is probably good enough. As smartphone technology has become incredibly advanced in recent years, people are actually replacing their smartphones less often. 

Back in 2016, the average replacement life cycle was 23 months. By 2019, this increased to 33 months.  During this same time period, the cost of smartphones mushroomed – the world’s top 3 smartphone brands increased their prices by 52%.

As they say, if it ain’t broke, don’t fix it. Or maybe, if it’s not totally broken, fix it a little. Would you believe that every second in America, 2 phone screens are broken? Welcome to the phone repair economy – at a massive $4 billion industry, you’re in good company.

Now that you have some newfound freedom in the phone repair economy, what will you do with all that leftover cash? Learn more about the phone repair revolution in the visual deep dive below:

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