You don't have to buy a new phone every year.
Everyone is on a different upgrade cycle just because Google, Apple, or Microsoft release something particularly a hardware item yearly that doesn’t mean everyone upgrades at the same time but in the tech world you have to keep moving forward iterating or you end up like Intel, Xerox, or a Kodak behind and in some cases out of business like Motorola of Schaumburg, Illinois……
Honorable mentions: Companies standing still in comparison to their competition US Steel (recently sold to the Japanese), GM, Ford, and Tesla.