00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Americans are holding on to aging smartphones and other devices longer as prices rise and
00:06economic uncertainty grows, attributed to what experts describe as a nationwide productivity
00:11drag. According to CNBC, reviews.org data shows that Americans now keep their smartphones for
00:16about 29 months, up from roughly 22 months in 2016. Federal Reserve reports that every
00:21additional year, companies delay equipment upgrades, cuts productivity by about one-third
00:25of a percent. Internet speeds have increased dramatically over the past decade, but many
00:29older devices weren't built to handle modern gigabyte speeds, forcing networks to slow down
00:34to support outdated technology. Advocates argue that better support for refurbishment and
00:38modular designs could ease the financial burden. For all things money, visit Benzinga.com.
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