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129

Americans are holding onto devices longer than ever and it's costing the economy (cnbc.com)

submitted 3 days ago by alyaza@beehaw.org to c/technology@beehaw.org

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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.

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[–] gerryflap@feddit.nl 31 points 2 days ago (1 children)

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@thelemmy.club 12 points 2 days ago (1 children)

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@beehaw.org 4 points 2 days ago* (last edited 2 days 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.