After evaluating several new smartphones this season, I've elected to stick with my existing handset. And while my reasons for doing so are my own, I'm not alone: People are holding on to their existing smartphones for longer than before, triggering a sales collapse that extends across the industry.

Meaning, this isn't just about Apple, though we seem collectively obsessed by any bad news about the consumer electronics giant. But as the market leader, Apple is correctly seen as the bellwether for the rest of the smartphone industry. And in this case, the industry is absolutely following Apple in a downward trajectory.