But I know some set of people who will always go for the new generation of phones. It is like a yearly ritual that they must buy the latest model of their phone. I have seen some go as far as buying these phones on credit because they don't have enough funds to pay. The most troubling part of it is that they are not using these phones for business or any productive activities.
It will not be a bad economic decision to reconsider and adjust our craving for these new products especially if they will not be beneficial financially.
ReferenceWhile I don't have anything against people buying phones and following trends, I think one of the most useless phone to ever produce so by Apple is this iPhone 16 series, no difference between them and 15 and it seems apple is running out creativity while Samsung is doing foldable phones, even Huawei is doing too notched phones in 2024 but Appls wasting resources just to keep up with the trend.
However, I think people will buy what's makes them happy and as long as they like it, they can afford it without taking loan or sell something just to buy the phones, then that's their problems. All customers has different marginal test for items, some people can spend their last card to buy a gadget and devices but where I get from is people that can't afford it but will take loan to buy the phone just because they want to be on the trend which is very big financial mistake.