You might have wondered why Apple releases a new iPhone ever so often and that too at ridiculous prices, making it difficult for you to keep up and own the latest model, considering that the latest model is replaced almost every year. In fact, you may not be able to even recognize any sizable differences in the different models and think that they are almost the same. Still, it feels good to own the latest product, so you might still purchase the new iPhone anyway. The fact of the matter is that the iPhone has become more than a phone. It has become a status symbol. The people’s desire to own the latest product to appear to be the most up-to-date in technology is one of the things Apple capitalizes on to make profits.
Of course, it is also true that although we may not notice it, there are some technological advancements in each model which makes it better than the last one. The upgrades and improvements may not be as steep as they once were but there are always new features introduced that allow Apple to satisfy its investors by presenting the prospect of growth and advancement. In order to do so, Apple needs to constantly research, improve and upgrade its models.
However, this is important for the company to stay in business. Its competitor, Samsung, manufactured over eleven different models of the galaxy series. Samsung targets people of all social classes. Considering that Apple targets only specifically the upper class, it has to ensure its survival through continued research and the release of at least one iPhone every year. Only then can investors retain confidence in the company which would allow the company to survive and grow.