I used to work in the tech industry and this is absolutely true. We have billion dollar factories around the world and we need to keep manufacturing new units or there'd be no work. Consumers don't want to pay more for a quality product, instead it's easier to sell current trends to them as their attention span is very short.

For me, I go 3-4 years on the same phone doing a monthly cleaning. I'm not big on social media and the primary purpose of a phone is productive communication not narcissistic vanity. However, that's not how our bread-and-butter primary consumer thinks and behaves.