Earlier this week, Apple announced the launch of the iPhone 17, continuing its annual tradition of unveiling a new model each fall. For millions of Canadians, that familiar announcement comes with a familiar, if somewhat redundant, question: should I upgrade to the latest model, or stick with my current device? The previous iPhone generation, the 16 series, only arrived last year, and yet suddenly what was once cutting-edge may feel outdated.
This dilemma is not limited to smartphones. It stretches across cars, televisions, kitchen appliances and other technology. Many products are designed with planned obsolescence in mind, while software updates, changing standards and new features create a sense that last year’s model is no longer enough. It can feel frustrating and even unavoidable, as though the market is nudging, or sometimes forcing, you to spend more. Consumers are left balancing the desire for the newest, fastest and most advanced gadgets with the reality that what they already own may still work perfectly fine.
You may feel tempted to buy the latest and greatest. You may even feel like you have no choice. But, when it comes to your finances, what is the real cost of upgrading your technology at a rapid pace?
Is your device built to fail? The reality of planned obsolescence
The concept of planned obsolescence — designing products with an intentionally limited lifespan to encourage repeat purchases — is not merely a conspiracy theory but a documented business strategy. In 1924, the Phoebus Cartel, a group of major lightbulb manufacturers, conspired to reduce the average lifespan of lightbulbs from 2,500 hours to 1,000 hours to increase sales by forcing consumers to replace bulbs more frequently.
In the consumer electronics industry, this practice persists. A 2024 study by the University of Wisconsin-Madison, found that planned obsolescence results in an additional expense of US$1,043 (CDN$1,400) per year for the typical American household, just for technology devices.
The European Union has recognized the issue, with France passing legislation in 2015 that fines manufacturers up to €300,000 (CDN$490,000) and imposes jail terms of up to two years for planning the failure of their products.
In Canada, Quebec has also taken steps to combat planned obsolescence. In October 2023, the province adopted Bill 29, which prohibits the creation or sale of items with planned obsolescence through any technique that would reduce their normal operating life.
The cost of upgrading
Upgrading to the latest model often comes with a hefty price tag. For instance, the iPhone 17 is expected to start at US$799 (CDN$1,100), with the Pro models reaching up to US$1,199 (CDN$1,650). In Canada, these prices can be even higher due to exchange rates and taxes. Additionally, new models can depreciate quickly. According to industry expert Sam Wilson, "High-end models like the iPhone 16 Pro and Pro Max can lose £150-£300 (CDN$245-CDN$485) in value within a month of the new launch," he told The Sun.
Consumer behaviour and the allure of the new
Despite the costs, many consumers feel compelled to upgrade. Research by Consumer Intelligence Research Partners (CIRP) found that only 18% of people upgrade their iPhones for new features; the primary reasons are the age of the existing phone and its inability to work with current apps or software. Additionally, the release of a new model can make consumers feel that their current device is outdated, even if it still functions well.
When to consider upgrading
It’s generally advisable to upgrade when your current device no longer meets your needs. For smartphones, this might be when the device is no longer receiving software updates, when the battery no longer holds a charge or when the device is physically damaged beyond repair. For other products, consider upgrading when the cost of repairs exceeds the cost of replacement, or when the product no longer functions efficiently.
The environmental impact of frequent upgrades
Upgrading to the latest model of smartphones, cars, appliances or other technology may seem appealing, but it’s essential to consider the broader implications of your decision.
The environmental impact of frequent upgrades is significant. In 2022, the global generation of electronic waste reached a record 62 million tonnes, with projections estimating a rise to 82 million tonnes by 2030. This increase is attributed to shorter product lifespans, higher consumption rates and limited repair options.
A staggering 77.7% of e-waste generated in 2022 was not formally recycled, leading to substantial losses of valuable materials and increased pollution risks. Improper disposal of e-waste can release toxic substances like lead, mercury and cadmium into the environment, contaminating soil, water and air.
Financially speaking, the global economy incurs approximately $37 billion annually due to the improper disposal and underutilization of electronic devices. Additionally, the cost of recycling e-waste is higher than landfilling, with recycling costs ranging between $450 and $1,000 per metric ton, compared to $150 to $250 for landfilling.
Make the upgrade choice work for you
The arrival of the iPhone 17 is a reminder of how often we’re prompted to chase the newest, fastest and most advanced technology. The excitement around new features can be tempting, but the real question remains: does your current device still serve you well? If the answer is yes, upgrading may offer marginal practical benefits while costing you money and contributing to growing electronic waste.
By pausing before you buy, weighing actual needs against marketing pressure and considering the environmental and financial impacts, you can make smarter decisions that protect both your budget and the planet. Whether it’s the iPhone 17, a new car or the latest appliance, thoughtful timing and intentional upgrades ensure technology supports your life without driving unnecessary costs or waste. In the end, the newest model is not always the best investment.
Sources
1. The Sun: All iPhones will drop in value after today – cash handsets in now before it’s too late (September 9, 2025)
2. Population Matters: From lightbulbs to smartphones: the practice of Planned Obsolescence (April 11, 2024)
3. eSmartRecycling: Planned obsolescence: The hidden costs you can’t afford (November 27, 2024)
4. Lifewire: Research Finds Only 18% of People Upgrade Their iPhones for New Features (September 4, 2024)
5. UNITAR: Global e-Waste Monitor 2024: Electronic Waste Rising Five Times Faster than Documented E-waste Recycling (March 20, 2024)
6. UNITAR: The global E-waste Monitor 2024 – Electronic Waste Rising Five Times Faster than Documented E-waste Recycling: UN
7. Science Direct: Environmental and economic impacts of e-waste recycling: A systematic review (August 15, 2024)
8. Baker Institute: Closing the Loop on the World’s Fastest-growing Waste Stream: Electronics, by Rachel A. Miedl (June 14, 2023)
9. ECircular: The Hidden Costs of E-waste: Uncovering the Environmental, Health, and Economic Impacts
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.