The smartphone market is highly competitive, with leading tech companies putting huge sums of money into staying ahead of the competition and coming up with industry-defining innovations.
It's therefore interesting to see that many smartphone users are actually quite happy to stay loyal to a particular brand if they've had good experiences with it in the past.
Indeed, a new study by investment bank Morgan Stanley has found that more than nine in ten iPhone users who consider themselves likely to upgrade in the coming year will stick with an Apple handset.
That's particularly good news for Apple considering the fact that the latest iteration of its flagship smartphone – the iPhone 8 – is set to be unveiled later this year.
Apple's 92 per cent retention rate represents a six per cent improvement on the figure recorded this time last year and puts it well ahead of other leading smartphone manufacturers.
For instance, the Morgan Stanley survey showed that just 77 per cent of Samsung users would stick with the brand if they upgraded their handset in the coming 12 months.
Meanwhile, only 59 per cent of LG phone users said they would stay loyal, along with 56 per cent of those with a Motorola device.
It was a similar story for Nokia, with only 42 per cent saying they would be likely to purchase another one of its handsets in the coming year.
Of course, some industry observers had been keen to make a point of how iPhone sales around the world actually dropped slightly between January and March, when compared with the first quarter of last year.
However, there have been lots of rumours and reports of the iPhone 8 being unveiled in around September or October – enough to probably convince anyone looking for a new handset to hold off for a couple of months.
Customers are often willing to pay premium prices for the latest gadgets, especially those with innovative and exciting new features.
And with the iPhone 8 just around the corner, it's likely that people are adopting a wait-and-see approach, rather than rushing to buy something that lacks some of the new model's functions.
Rumoured features of the iPhone 8 include a 5.8-inch OLED screen with embedded Touch ID, wireless charging, a 3D front-facing camera and a virtual home button.
We must stress, however, that these are just rumours, and any so-called leaks or comments from insiders must be treated with a pinch of salt.
BGR claims to have seen a mock-up of the final design of the iPhone 8 and has even posted pictures online, which has only got Apple fans even more excited.
But the truth is that we can't be sure if this is the real deal just yet. Apple has taken corporate secrecy to a new level and is great at keeping its cards close to its chest.
While that can be frustrating in a way, it's also what helps to build up such anticipation around its latest products. For now, we'll just have to wait a bit longer…