Automobiles are also on an annual cycle. Do you think most people buy/lease a new car every year--especially given that something like 11 years is the average length of time people hold onto their cars these days?
Even with trade-in incentives, the vast majority of people don't get a new phone every year.
Source? I see lots of people using older iPhones, and even amongst the rich demographic I hang around, no one cares about new iPhones since at least a few years ago.
They simply do not change in a way that affects most people’s lives.
Even with trade-in incentives, the vast majority of people don't get a new phone every year.