Global Consumer Electronics: Pockets of Strength Amidst Mixed Spending Intentions; AAPL Maintaining Brand Leadership

We collaborated with Citi's Research Innovation Lab to survey 4,000+ global consumers ahead of the back-to-school season to explore how purchase behavior and spending intentions for consumer electronics have evolved. Mixed Purchase Intentions in APAC; US/UK More Resilient — softer purchase intentions across APAC, while UK and US demand was more resilient, with gaming-related products standing out positively alongside trackers/smartwatches, and strong US interest in AR/VR headsets ahead of GTA6's expected release in November 2026. Smartphone — respondents expect to replace devices faster than in prior cycles, with holding periods of 2.1-2.7 years versus 2.9-4.3 years previously, partly driven by demand for AI-enabled devices;