As the world’s largest company with a market capitalisation of over US$2 trillion dollars, Apple is no stranger to anyone. Like many, my iPhone is the first thing I see in the morning when turning off the alarm, and it’s often also the last thing I see before heading to bed. Seeing how entrenched smartphones are in our lives and its rate of adoption, it is not surprising to see the iPhone contributing the majority (52.5%) of Apple’s revenue in 2021. Source: Apple However, despite the iPhone’s popularity in the market, its CAGR over the last five years has been one of the lowest at 8.34% compared to Apple’s other product segments. Source: Apple This slower growth is attributed to the increase in average lifespan (replacement cycle length) of smartphones worldwide. This means lower demand to upgrade iPhones despite the introduction of new models. For an average user like myself, the cost of upgrading to a new phone far outweighs...