Two years ago, Apple claimed there were over a billion active iPhones out there (https://www.theverge.com/2021/1/27/22253162/iphone-users-total-number-billion-a

Two years ago, Apple claimed there were over a billion active iPhones out there (https://www.theverge.com/2021/1/27/22253162/iphone-users-total-number-billion-apple-tim-cook-q1-2021 https://www.theverge.com/2021/1/27/22253162/iphone-users-tot...). Ballpark, that probably still is true. If people buy a replacement every four years, they’ll sell about 240 million a year. That doesn’t require them to attract millions of new users each year. Now, why do users buy replacements? They may lose them, the devices may break down, Apple and/or app makers may stop supporting them, and new ones are significantly better (even if all updates are, as you claim, small, they still accumulate into big ones over the years)