When it comes to teen and electronics, there’s seemingly only one company on the playing field: Apple. “Apple’s dominance in the (consumer electronics) and online music markets is going seemingly unchecked,” Piper Jaffray analyst Gene Munster told investors Monday.
At the head of that urge to own anything with the Apple logo is the iPhone. Nearly a third – 31 percent – of teens the financial analyst surveyed said they plan to buy an iPhone in the next half year. That’s up from 22 percent last fall and almost double the 16 percent found a year ago.
“The teen demographic is a critical component of long-term growth in the digital music and mobile markets,” Munster said. This is the 19th semi-annual teen survey Piper Jaffray has conducted.
Among the 261 U.S. teens who answered the survey’s Apple section, 14 percent said they already own an iPhone, up from 8 percent during the same period if 2009. However, the results were down slightly from a half year ago, when 15 percent of teens reported owning an iPhone.
Apple virtually owns the U.S. MP3 market, the survey found. Apple was the choice for 92 percent of teens who own an MP3 player. Sharing the slim room left for any competition with 3 percent each were Microsoft, Sony and Sandisk.
Although less than half – 43 percent – of teens surveyed reported legally downloading music, of that group, 92 percent headed to iTunes to buy their tunes.
The complete Piper Jaffray teen survey included 6,000 U.S. students.