It's more than that. Technology advances on a sigmoid curve until there's an entirely new breakthrough and we're at the low-growth end of that curve after going through the high-growth.

Now, it's much more static mature market with mere incremental changes. And while it may be a shock to the tech-manufactures, in these mature-technology markets sales will fluctuate with far more with the economy instead of the tech-driven replace rate that we went through during the 90s and 00s.

And I'm a great example of it. From 1988 through about 2008 I had to replace/upgrade my work and personal computers every two years to keep up with the changes in programs that got more powerful (or just bloated) to take advantage of all the power increases.

Now I get a new computer every 7 years on average. I got my first i7-based computer in 2009. I'm now on my third i-7 that I bought just 3 months ago. That's about 7-years a PC now. Not two.