The average American now holds onto their smartphone for 29 months, according to a recent survey by Reviews.org, and that cycle is getting longer. The average was around 22 months in 2016.

While squeezing as much life out of your device as possible may save money in the short run, especially amid widespread fears about the strength of the consumer and job market, it might cost the economy in the long run, especially when device hoarding occurs at the level of corporations.

  • Oh no, we’re being so selfish. Why not buy a 10% performance upgrade every two years for $1000 while wages stagnate? Oh, and carriers don’t subsidize the cost at all anymore. They call it “free” then lock you into their most expensive plan so you spend thousands more on the plan than if you could have afforded to just buy the phone outright.

    Fuck this out of touch reporting.

    • cabbage ( cabbage@piefed.social ) 
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      11 months ago

      It’s all over the place. In the middle of the article they suddenly talk about how software updates, modularity and repairability is important so that old devices can be made to keep up with contemporary demands, blaming the fact that this is an issue on big tech.

      Then again, other parts are completely nuts.

    • I’d argue it’s actually more the fault of the politicians than the CEOs, because the politicians cut taxes for the rich and set the rules of the game for companies to operate in; companies merely take opportunity of the exploits presented to them.

      I’d also say that companies have a so called “fiduciary duty” to maximize shareholder values, as typically understood by economy classes. the way to change that behavior is to change the rules to which the companies have to keep. that means, instead of exploiting workers, they should pay taxes and benefit the community that way.

  • Jesus Christ what a dumb take. But at least they didn’t say that millennials are killing the cell phone industry. I guess that doesn’t make for good clickbait anymore.

    Reminds me if the parable of the broken window, in which French economist Frédéric Bastiat explains the painfully-obvious truth that breaking windows is generally a bad thing, even though it drums up business for the glass maker.

    But if, on the other hand, you come to the conclusion, as is too often the case, that it is a good thing to break windows, that it causes money to circulate, and that the encouragement of industry in general will be the result of it, you will oblige me to call out, “Stop there! Your theory is confined to that which is seen; it takes no account of that which is not seen.”

    It is not seen that as our shopkeeper has spent six francs upon one thing, he cannot spend them upon another. It is not seen that if he had not had a window to replace, he would, perhaps, have replaced his old shoes, or added another book to his library. In short, he would have employed his six francs in some way, which this accident has prevented.

  • Jul ( irotsoma@piefed.blahaj.zone ) 
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    11 months ago

    “Companies aren’t innovating anymore and it’s costing the economy” is what it should say. When late stage capitalism leads to consolidation and cost cutting, stock buybacks, and other short term profit when competition is no longer necessary, that’s what kills the economy. That’s why monopolies and anticompetitive behaviors are bad, but the US doesn’t punish that anymore.

    • “Companies aren’t innovating anymore and it’s costing the economy”

      companies aren’t innovating anymore because physical limits have been reached. Moore’s law holds no longer true. Transistors can’t be packed more tightly into space anymore while also making the computer chip cheaper at the same time.

      • Jul ( irotsoma@piefed.blahaj.zone ) 
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        11 months ago

        There’s lots of things that could be innovated without faster processors. I mean if we’re just talking cell phones, adding a camera was an innovation, adding a touch screen and eventually touch keyboards that actually worked, different form factors. These things were aided by faster processors, but not directly dependent on them. But these could be totally unrelated devices to phones or even computing at all. Innovation across the board including med-tech, business models, city planning, and tons of other industries have suffered from privatization, deregulation, and leading then to consolidation and thus little need to compete and thus little need to innovate.

  • teawrecks ( teawrecks@sopuli.xyz ) 
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    11 months ago

    While it may seem to be a smart money move, it can result in a costly productivity and innovation lag for the economy.

    For the love of god! Won’t somebody think of the economy?!

  • Megaman_EXE ( Megaman_EXE@beehaw.org ) 
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    11 months ago

    Why would that hurt the economy? If you want people to spend money, make things affordable and useful. They make things shittier and more expensive and then wonder why people aren’t buying

  • PonyOfWar ( PonyOfWar@pawb.social ) 
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    11 months ago

    At this point my phone from 2022 is way overpowered for every use case I have for it. So why upgrade? It was a bit different years ago, when new phones actually did exciting new things older phones couldn’t do. But now the technology has pretty much matured, and upgrades are incremental at best.

    • I am typing this on a 5 year old Android phone. It has 128GB of memory and 8GB of RAM, very decent cameras, a beautiful OLED screen and a processor that is more than fast enough for everything I do with it. And even now the battery still lasts two days with normal use. It cost me about €300 at the time.

      Unfortunately the Android version is getting so far behind that some apps are starting to get a few issues, so I have been checking out some black Friday deals for new phones, but they look very disappointing.

      In the current market it seems like I’d have to pay about €500 to effectively just get a side-grade. All €300 offerings look like just a straight up downgrade in any way apart from the more recent android version.

      So I think I’ll hold on to this one a while longer. Hardware-wise it’s still in perfect condition, and if software support really becomes an issue then perhaps I’ll try out a custom ROM.

    • boonhet ( boonhet@sopuli.xyz ) 
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      11 months ago

      Also if you keep it for longer, the performance boost from a new one is noticeable. If you replace every 2 years, you get an imperceptible change and have to waste more money for it lol

  • gerryflap ( gerryflap@feddit.nl ) 
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    11 months ago

    The person who wrote this must be absolutely insane. How I’d it a bad thing for the world that people are holding on to their devices? Less e-waste and people don’t spend impulsively. It’s also very logical: smartphones reached a plateau and people aren’t exactly swimming in money with the rising price of everything.

    • HobbitFoot  ( HobbitFoot@thelemmy.club ) 
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      11 months ago

      The person is writing from a business prospective. If people are replacing their phones less often, it means that fewer phones are being purchased each year. If your company makes phones, that means adjusting to a shrinking market no matter what your company does.

      • t3rmit3 ( t3rmit3@beehaw.org ) 
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        11 months ago

        that means adjusting to a shrinking market no matter what your company does.

        Which is good. Markets are supposed to go up and down, and responsible businesses would have the capital reserves to weather the troughs, but no (public) companies are responsible anymore, and they waste any capital reserves on appeasing short-term shareholders who don’t give a rat’s ass about the long-term prospects of the company.