Verizon Communication’s decision to nix subsidies for smartphones may benefit Apple Inc. more than rival Android smartphone manufacturers.

Apple AAPL, +3.03% puts a premium price on its popular iPhones, which tend to attract users in higher income brackets, and recent survey data from Morgan Stanley suggests those wealthier customers are more willing to upgrade at the phone’s full, non-subsidized price.

Morgan Stanley, using data from AlphaWise, estimates that Apple holds a 53% share of the market for consumers with income higher than $100,000. All other brands, lumped into an arbitrary non-Apple category that includes Samsung Electronics 005930, -1.85% , share the remaining 47%.

Last year, NPD Group published data that was even more lopsided. It had Apple accounting for 65% of U.S. smartphone sales among consumers who earned more than $100,000. Samsung’s largest income demographic was below $30,000.

In total, 74% of current Apple users across all income classes surveyed by Morgan Stanley in November and December 2014, shortly after the iPhone 6 launch, said they planned to upgrade within the next two years, compared with just 50% of non-Apple users.

This, said Morgan Stanley analyst Katy Huberty, makes Apple far less impacted than the rest of the market should installment plans start to weigh more broadly on upgrade rates, though there is no proof that is happening just yet.

Verizon VZ, -1.22% is the latest to implement such plans, first adopted by T-Mobile TMUS, -0.13% in 2013 as a competitive advantage designed to lure customers from larger rivals Verizon and AT&T Inc. T, -1.03% . The plans, implemented by Verizon on Thursday, require customers to pay for their mobile phones in either monthly installments or by purchasing it outright.

“Apple users are higher-end,” said Hubert in a video sent to clients. “As a result, they are less sensitive to a $30 reduction in their monthly bill.”

Another reason why they may be more willing to upgrade is because Apple consistently updates hardware and software and correlates upgraded software to newer-generation hardware, encouraging people to keep up-to-date with its newest phones. An example of this was Apple’s September 2014 launch of Apple Pay, which is only compatible with the iPhone 6 and iPhone 6 Plus.

Apple is expected to unveil the iPhone 6S at a product event in September.

Shares of Apple traded up 0.8% to $116.13 in recent trade. They are down about 7.8% in the last three months, versus a 3.3% decrease for the broader Dow Jones Industrial Average. Verizon’s shares were trading flat around $47.88, and are down about 3.7% in the three-month period.