Speaking for myself, I'm due to upgrade my phone - my contract is up, I have no balance owed - but I just don't see a need to. My phone is two and a half years old and it's hanging in there. It still calls, texts, browses and reads just fine. And the typically weakest link of all, the battery, is still holding a decent charge. I don't see any advantage to replacing it right now. I lost the comment, but someone else posted that they're at "peak phone" and I'm inclined to agree.

Edit: -redundancy