UBS surveyed 8,000 smartphone users around the world, and the results should worry Apple
Fewer people plan to buy a phone in the next 12 months.
Because everyone is holding on to their phones for longer.
The percent of people planning to buy an iPhone has fallen sharply in China and dropped in the US.
Android has now overtaken Apple as the most retentive brand on the smartphone market.
UBS says that over time it believes this will "increasingly pose a headwind to Apple's ability to take share."
Th note added: "This can also be seen if we look at the destination of consumers who are switching OEM - in prior periods Apple would have been a net-gainer in this base but now the outlook is much more balanced which we believe is a consequence of the improved retention that has built up around the Android ecosystem."
UBS says Apple's average selling price (ASP) has likely hit a ceiling, meaning there's not much room to raise prices.
And Apple's been losing some of its allure as a "aspirational" brand with unique products.
Apple's status as a trusted brand in China has also taken a hit.
Apple's retention rate has dropped in China in particular.
Apple is possibly a victim of the on-going trade tensions between the US and China, according to UBS.
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