Major technology innovations are slowing down and it wasn’t as it used to be. In the past people are willing to trade in their smartphones as soon as a new one is release because that is the latest and greatest with an abundance of new features even though the price range is high. Nowadays smartphones has minimal feature improvements and are marketed at the same price value causing sales to go down. With Phones also getting better and sturdier than previous generations. A lot of companies are making phones with more processing power and with larger memory capacity, phones are useful longer, before they become little more than a paperweight. Due to new laws and regulations put in placed by our president, Apple has been one of the fews to be get the hardest hit by declining sales. Apple suffer from an 11.5% drop in the fourth quarter even though the company has released three new iPhone models. The company reported that iPhone sales were down 3.2% making the sales in U.S. and China the worst in smartphone history ever
Source: https://www.itworld.com/article/3337529/mobile-wireless/its-been-the-worst-year-ever-for-smartphone-shipments-heres-why.html
Apple has started a trend of high-priced smartphones that most of the other major players are adopting, This has led to a dip in consumer purchases. Furthermore, I also agree the a lack in innovation has also deterred many consumers from trading in old devices or purchasing new ones. However, smartphones continue to be the most popular technology as they are so heavily integrated in our daily lives. I hope that in the future, companies become more innovative to increase interests of consumers.
It is clear to me that innovation in the smartphone industry has decreased in the last 3 years or so. Yes, every new phone, iPhones especially, is better than its early model, but there hasn’t been any new neck breaking features. Also some older phones nowadays seem to be keeping up to speed than before. Perhaps that is one aiding factor to why consumers are not upgrading to the latest models.