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Consumers wait for current mobile contract to end before upgrading
The iPhone 5 sold like hotcakes after the launch, but a new survey from Ipsos Public Affairs and coupon website RetailMeNot.com reveals there are plenty more waiting in the wings.
Not everyone rushed to buy a new iPhone 5 earlier this month. Many are waiting to upgrade their phone, but won't do so immediately.
The Ipsos/RetailMeNot.com survey of over 1,000 U.S. adults found that 42% will wait until their current mobile phone contract ends before upgrading. The main reason is to avoid expensive termination fees.
Some carriers can charge as much as $350 to terminate a contract.
Just 13% will upgrade whatever their contract status, just for the love of owning the latest gadget. Those under 35 (22%) and parents (17%) are also more likely than others to upgrade their phone because they just like having the latest and greatest technology.
If you can't wait until your contract ends to get your hands on a new iPhone 5, PCMag.com's Eric Griffith provides 13 ways to get out of your existing phone contract including trading a contract, using social media to get your voice heard or finding a loophole in the contract.
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