Smartphone manufacturers, such as Apple and Samsung, have thrived for the past fifteen years using a specific business model that involves
(i) Swiftly releasing next generation products that contain significant advancements over previous generations of products, and
(ii) Selling next generation technologies at a premium.
However, more recently, sales of used and refurbished older-generation-technology products have cut into sales of latest-generation-technology products. This analysis examines the game between sellers of new products and sellers of used and refurbished products.