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People are keeping their cell phones a lot longer -Axios close icon Mobile toggle main menu Axios Mobile toggle complementary sections profile Search Save story Read more toggle Share on Facebook Share on Twitter Share on LinkedIn Copy permalink to your clipboard

The average American is now hanging on to their cell phone nearly three years, according to new data from Chetan Sharma Consulting. That's up from about a two-year upgrade cycle in 2014.

The big culprits: The end of two-year contracts and a maturing cell phone market have been the key factors.

"Consumers are treating phone purchase akin to a computer buy and given that there are only minor hardware changes from model to model [with exceptions], there is less incentive for consumers to upgrade," CEO Chetan Sharma told Axios.

The X factor: Sharma says the arrival of the iPhone X could lead upgrade cycle times to shorten in the coming quarters.

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