December 17, 2012 – SquareTrade®, the top rated warranty provider, today releases a new study showing that damage from iPhone® and Android™ devices has cost UK smartphone owners a staggering £1.2bn since 2007. The research also reveals that 23% of users have accidently damaged their handset in the last 12 months. If repeated in 2013, it could leave some Christmas shoppers facing hefty repair bills in the New Year. Based on a study of more than 2,500 smartphone users, the results combined the cost of repairs, replacements and insurance excess for accidentally damaged Android and iPhone devices.
SquareTrade’s study shows that smartphone owners were nearly 10 times more likely to suffer from accidental damage than loss or theft. Some consumers were forced into “desperate” measures if they couldn’t afford to pay for repairs with 8% of owners admitting using phones with cracked screens and 4% resorting to taping up their phone.
Your lifestyle may increase your risk
The study also highlighted how lifestyle choices and habits make smartphone owners more likely to have had an accident:
- People who use public transport to commute – 66% more likely
- People who trade stocks frequently – 60% more likely
- People who read the Daily Mirror – 47% more likely
- People who are part of a big household – 46% more likely
- People with tattoos – 37% more likely
- Pet owners – 15% more likely
Where and how accidents happen:
48% of smartphone accidents occur around the home according to SquareTrade’s study. The top 5 most common accidents were:
- Smartphone fell out of someone’s hands (26%)
- Smartphone fell off a lap when standing up (15%)
- Smartphone immersed in a liquid (14%) (toilet, bathtub, swimming pool)
- Liquid spilled onto smartphone (10%)
- Smartphone was knocked off a table (9%) /fell out of a pocket (9%)
“Deloitte LLP predicts Christmas smartphone-related sales will reach up to £3.5bn in the UK this year – but few can predict how their shiny new devices might meet their demise. A hefty repair bill is something people can easily avoid with a little foresight,” commented Vince Tseng, managing director of SquareTrade UK.
He added: “According to this research, if you are a tattooed, pet owner who reads the Daily Mirror – you are highly advised to protect your smartphone!”
Data Sources: (1) SquareTrade’s UK 2012 Smartphone Accident Survey, conducted December 2012. This survey collected 2,500 responses from iPhone and Android users in the UK using the world’s largest panel provider, Survey Sampling International. Demographic quotas were used to collect a representative sample of smartphone owners. (2) Overall spend estimate was created using market share estimates published by comScore MobiLens, 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 190,000 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.
SquareTrade is a registered trademark of SquareTrade, Inc. iPhone is a trademark of Apple, Inc. Android is a trademark of Google, Inc. Other company and product names may be trademarks of their respective owners.