[MBCook]

Not many people upgrade every year. Apple sells a ton of phones but most people keep them for 2 to 3 years, so it’s just a lot of people on a cycle.

If they only introduced a new phone every 2 to 3 years people might be tempted by the new stuff on other phones. Or you could buy a new phone (to you) that is actually a two year old design.

This way you always get the newest thing, even if it’s not significantly better than what you could’ve bought last year. But it’s a nice upgrade if you’ve waited two years, and for people who wait like 5+ years it’s incredible.