Aging Tech Drains Networks And Workplaces As Americans Stretch Device Lifespans

Benzinga

Americans are keeping smartphones and other devices much longer as prices climb and economic uncertainty persists, creating a drag on national productivity. Older hardware can’t handle today’s faster internet speeds, forcing networks to slow down to accommodate outdated tech. Experts say better refurbishment and modular designs could reduce financial strain on consumers.

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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00:34to support outdated technology.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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