The cell phone market has matured, the rate of innovation has slowed and the need to update your phone at every release has subsided. Apple has recognised this, they have better long term support for their phones then any other manufacturer that I can think of. As an example I have given my son an old iPhone 5S that my wife got in 2014, it had been sat in a draw for a couple of years but a good charge and an update has made it like new, it is running the latest iOS like a champ. Apple is taking a hit on sales because it is making an effort to support it's products long term. Now for me as the consumer I'm prepared to pay a premium for my phone because I know it will last 3+ years.