SAN FRANCISCO, CA – April 25, 2013 – SquareTrade®, the top-rated protection plan trusted by millions of happy customers, today announced new research predicting that one in five Americans will buy the new Samsung Galaxy S®4 and one in four will break it within the first twelve months. The study also found that Americans have spent more than $7.2B on damaged Android™ phones including Samsung, Motorola, LG and HTC since 2007, and $3.7B on Samsungs alone. As Americans integrate their phones into an increasing number of daily routines and habits, accidental damage is 10-13x more common than loss and theft.
The research goes on to reveal Samsung loyalists are far more prepared than iPhone® users should an accident occur: they are 20% more likely than Apple owners to purchase a protection plan of some kind for their devices.
“Samsung continues to gain momentum in the market: 21% of Samsung owners previously had iPhones but defected, according to our research” said Ty Shay, CMO at SquareTrade. “And while Samsung owners seem to be savvier about protecting their devices, millions of people will suffer the unexpected drops and spills that are so common today, and discover that it’s not $199 to replace their smartphone – but instead between $500 and $700.”
SquareTrade research data sources:
- SquareTrade’s 2013 Future Samsung Owners Survey conducted in March 2013 using Google Consumer Surveys. Feedback was collected from 1,000 consumers living in the US.
- SquareTrade’s 2012 Android Accident Survey conducted in October 2012 using the world’s largest panel provider, Survey Sampling International. Feedback was collected from 2,000 current Android smartphone users in the US. Demographic quotas were used to ensure a representative sample of smartphone users.
- Overall cost estimates were prepared using survey data and smartphone market size estimates released by ComScore in May 2012.
SquareTrade is the top-rated protection plan trusted by millions of happy customers for its fast and exceptional service. SquareTrade protects mobile devices, laptops and tablets, and other consumer electronics and appliances from malfunctions, accidental damage and life’s frequent mishaps. Unlike old-fashioned warranties, SquareTrade is designed for today’s consumer and uses innovative technology to deliver a zero hassle claims process. SquareTrade has more than 200,000 fans on Facebook, consistently wins industry awards and receives thousands of 5-star reviews for its legendary customer service. Top retailers around the world offer SquareTrade, achieving a 200% increase in sales on average and happier customers. SquareTrade’s rapid transformation of the warranty industry attracted one of the largest private capital raises in 2012, with a $238 million round led by Bain Capital and Bain Capital Ventures. Headquartered in San Francisco and London, SquareTrade is privately held. For more information, go to www.squaretrade.com.