Huge iPhone growth is more than a one-off blip, argues Tim Cook, with most still to upgrade

Updated quote with WSJ correction:

While few would expect the record-breaking surge in iPhone sales generated by the larger-screened models to continue into subsequent quarters, Tim Cook argued in a WSJ interview that the potential is there.

In an interview, Apple Chief Executive Tim Cook, not surprisingly, argued that the demand is more than temporary. He said fewer than 15% of older iPhone owners upgraded to the iPhone 6 and 6 Plus and that the majority of switchers to iPhone came from smartphones running Google Inc.’s Android operating system.

“We certainly believe there are legs to it,” said Mr. Cook of the iPhone sales surge.

Cook noted during the Q1 earnings call that the current iPhone lineup had experienced “the highest Android switcher rate in any of the last three launches.” With CIRP data suggesting that the US rate of switching from Android to iOS has remained broadly constant, that suggests the bulk of switchers have been outside the US–China in particular …