aarondmsu wrote:Has anybody found that some products become obsolete because of new product development? For example, does the mobile phone eventually become obsolete (i.e. literally zero consumer demand at any price) because of the development of the smartphone?
There are three products that become obsolete.
Mobile Phone (with invention of Camera Phone)
Camera Phone (withinvention of Smartphone)
Camera (with invention of Digital Camera)
By the way there is also one product with constantly decreasing demand - Cigarettes. Their demand decreases by 1% per year
[quote="aarondmsu"]Has anybody found that some products become obsolete because of new product development? For example, does the mobile phone eventually become obsolete (i.e. literally zero consumer demand at any price) because of the development of the smartphone?[/quote]
There are three products that become obsolete.
Mobile Phone (with invention of Camera Phone)
Camera Phone (withinvention of Smartphone)
Camera (with invention of Digital Camera)
By the way there is also one product with constantly decreasing demand - Cigarettes. Their demand decreases by 1% per year