Smartphones top the list of anticipated purchases, with two-thirds of survey participants saying they expect to upgrade to one with 5G capabilities.
Consumer tech spending on hardware and related services during the holiday season (October-December) is projected to reach $135 billion in revenue in the U.S. — a 10 percent increase from last year — according to a new study released on Wednesday by the Consumer Technology Association.
Smartphones topped the list of expected tech purchases, with two thirds of survey participants saying they expect to upgrade to one with 5G capabilities. (Last week Apple announced the 5G supported iPhone 12 will be released next month).
Following smartphones, most consumers expecting to make tech purchases are eyeing laptops, video game consoles (Xbox Series X and PlayStation 5 are coming this season), TVs and wearable devices, according to CTA's 27th annual Consumer Technology Holiday Purchase Patterns study, which was released on Wednesday.