A little more than a decade into the smartphone revolution, most device technology as we know it today has matured. Device makers appear to have agreed on a standard form factor, and consumers can find reliable hardware and stable operating systems on every platform.

As a result, people are hanging onto their devices longer. The lifespan of smart devices is steadily increasing in the U.S., evident in a drop in smartphone shipments. In the first quarter of 2019, device makers shipped 6.6 percent fewer phones year-over-year, on top of a 4.9 percent YOY decline in the fourth quarter of 2018.

The smart-phone thinkers and tinkerers in Silicon Valley keep coming up with cool camera gadgets and other mobile device features that make our lives easier in ways we never imagined. (DYK you can delete a texting typo by shaking an iPhone? True story.)

But the mobile device game isn’t just about camera pixels and design tweaks. Smart phones have a pre-determined shelf life that affects when new gizmos reach your fingertips. As that time of year rolls around again, we’re pulling back the shades on what goes into the process of dropping phone prices.