Less than 1/4 of people upgraded their phones in 2016

According to Mark Drukker, portfolio manager of the Fidelity Select Telecom Portfolio, smartphone sales growth could be unexpectedly strong this year. Drukker, points out that smartphone upgrades were low last year with less than a quarter of customers swapping their phones for a newer model at the top 4 carriers. He says many people will be forced to upgrade this year. Drukker says that this also means that people may switch carriers when they upgrade which could means shift in market share.

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(Source: The Bottom Line with Henry Blodget)