People already buy new phones every year, this just creates even more reason to do so

Outside of this website I've never met a person who buys a new phone every year. It's closer to every 3-4 years for most people.

Closer to every 5-6 years these days and with ram prices going up it will be even longer. Especially with the low/mid range phones, which are most phones outside some developed countries, people will keep their phones as long as they can.

Would depend on the income levels, but yeah, buying a new phone these days is entirely a non essential luxury. An iphone easily lasts 7 years so the moment money is tight, it's a very easy choice to not buy a new one.

Your location/income bias is showing. Most people do not buy new phones every year.

I live in the bay area and buy a phone maybe every 3 years? Why do people waste so much money :D