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.
Research released by the Federal Reserve last month concludes that each additional year companies delay upgrading equipment results in a productivity decline of about one-third of a percent, with investment patterns accounting for approximately 55% of productivity gaps between advanced economies. The good news: businesses in the U.S. are generally quicker to reinvest in replacing aging equipment. The Federal Reserve report shows that if European productivity had matched U.S. investment patterns starting in 2000, the productivity gap between the U.S and European economic heavyweights would have been reduced by 29 percent for the U.K., 35 percent for France, and 101% for Germany.
Who is only getting 29 months out of a smart phone? What are you doing?
I work outdoors in all weathers, in and out of vehicles and answering calls all day. 12 months is a good lifespan for one of my phones.
That being said I buy the cheapest phone samsung make every time. I can buy 10 of them for the price of a flagship S series.
There are the "free" upgrades with the phone company.
I saved my old Samsung so long that it became "worthless" for trade in value. So then I did need to buy a new phone. If I had traded it then I would not have any monthly bill for the hardware.
It literally cost me more in the long-term to not trade in at 24 months.
Also my work/corporate device must always be in the latest Android so they pay for upgrades every 2 years. It is mandatory for us to upgrade. I am sure we are not the only company doing this