> As someone who buys a good smartphone then hangs onto it for 5 years, can someone help me understand the need for this?
There's no need for it. However, the cost difference between the two extremes (upgrading every year vs. upgrading every 5-6 years) might be less than you think.
Last time I ran the numbers, I estimated that trading in every year for 5 years cost about $500 more than trading in once after 5 years. In other words, you pay ~$100/year to always have the newest phone.
I think that many people replace after 2-3 years because 1) that's when the warranty runs out; and 2) you don't save much vs. holding on to the phone for longer.
There's no need for it. However, the cost difference between the two extremes (upgrading every year vs. upgrading every 5-6 years) might be less than you think.
Last time I ran the numbers, I estimated that trading in every year for 5 years cost about $500 more than trading in once after 5 years. In other words, you pay ~$100/year to always have the newest phone.
I think that many people replace after 2-3 years because 1) that's when the warranty runs out; and 2) you don't save much vs. holding on to the phone for longer.