Nearly nine in 10 adults think buying the latest smartphone is a “waste of money”.
Research polling 2,000 Britons revealed more than half are “bored” of trying to keep up-to-date with the latest tech.
And three in four are no longer willing to pay a fortune to get it.
As a result, almost a third intend to spend less on smartphones and other gadgets over the next two years.
Almost three quarters also claimed they are content with buying cheaper, older models, while half will purchase refurbished or second-hand tech in order to save money.
The research was commissioned by musicMagpie as figures from its Annual Phone Depreciation Report found mobile phones can lose up to 68 per cent of their original purchase value in the first six months.
Liam Howley, from musicMagpie, said: “With mounting prices and an increasing number of new releases, it’s become really challenging for people to keep up with the latest tech.
“As the research shows, consumers are tired of the expense of new tech, being told ‘you need this now’ and being expected to meet the hefty price tag.”
The study also found 62 per cent even feel “forced” to buy the newest release because the lifespan of tech has decreased.
And eight in 10 don’t like feeling pushed by manufacturers to keep up with the times – opting to get their tech as and when they need it instead.
A further 72 per cent will avoid newer types of tech as they believe there’s a tendency for them to have bugs.
But four-fifths of those polled even admitted they can’t really see the difference between older models compared to newer ones.
The study, conducted via OnePoll, found 42 per cent also find it difficult to learn how to use new tech and would rather stick to what they’re familiar with.
It also emerged 62 per cent of adults are concerned about the impact the constant churn of new tech releases is having on the environment.