As prices rise, people will be less likely to buy the newest devices, both because the devices are more expensive and because their food, energy, and rent are e

As prices rise, people will be less likely to buy the newest devices, both because the devices are more expensive and because their food, energy, and rent are eating more of their pay. As companies lay off employees, they need fewer replacement devices for the people they don't have. And as they look to save money, they replace equipment less frequently. On top of that, lots of other industrial inputs (like energy-intensive steel!) are harder to come by, meaning that manufactures of things that use both electronic components and other unavailable inputs won't make as much stuff, and therefore won't demand as many electronic components, even though they might do if they could get the rest of their inputs. And yet on top of that, lots of retailers bought too much inventory when it was hard to get anything, and now have more on their books than they want in an economy experiencing rapid contraction, and so they're not buying more at all now even though they are still selling.