Linked by Thom Holwerda on Sat 23rd Apr 2011 10:20 UTC
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Member since:
2007-03-26
I don't think you can lay the entire blame on consumers. The reason technology advances as such a pace is simply because companies are trying to bring in new customers. In a world where nearly everyone has a TV, internet and mobile phone, the only way you can get new customers is to either:
* build bigger TV screens, more powerful mobile phones and faster internet
* or sell cheaper phone and internet contracts.
Seeming as it's hard to compete in price and still turn a profit, many businesses turn to offering the next most powerful device to attract customers.
At the end of the day, the global economy is dependant on consumers continually upgrading. Take the Ninento example on the front page: most people who want a Wii already own a Wii. So Nintendo either have to face slumping profits or release a new console. If Nintendo choose not to upgrade, then they will eventually go out of business and employees will lose their job. If everyone stopped upgrading their phone or buying new TVs, then Samsung would very quickly run into financial difficulty. And if all these companies went under then unemployment would rise. When unemployment rises even less people are in the position to buy luxuries from electronics to alcohol. So job cuts rise further which leads to even less spending and even more job cuts in turn.
Like it or not, our global economy is as dependant on new technology enticing new consumers as it is us consumers buying up the latest greatest piece of plastic indulgence.