People are keeping their cell phones a lot longer

The average number of months U.S. consumers hold onto their cellphones. Graphic: Chetan Sharma Consulting

The average American is now hanging on to their cell phone nearly three years, according to new data from Chetan Sharma Consulting. That's up from about a two-year upgrade cycle in 2014.

The big culprits: The end of two-year contracts and a maturing cell phone market have been the key factors.