Anyone with half a brain knows batteries don't last for even and what would they rather have a faster iPhone that is 4 years old with a few hours of battery life, or one that managed can last a full day and a little slower?
How long do people expect them to support old tech? This is probably the same people still pissed that Apple dropped the floppy from the original iMac and change to a smaller power lead with the iPhone 5.
I got a new iPhone 8 because I wanted one and I don't regret it, my old 5s is still working and has now be handed down to someone else in the family, we'll get a new battery if needed when its needed.
I'd hardly call an iPhone 7 purchased this year as "old tech", yet they're being throttled.
You also rather strangely give the example of an unthrottled 5S that's still in use, because it isn't crippled by throttling.
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In addition to slowing speed someone needs to investigate my belief that Apple also interfered with reception. I have a new Iphone and it gets better cell phone signal reception than my iphone 7. I know there could be other factors to explain the difference but if the goal was to get me to upgrade this is another thing Apple could have messed with too.
I am all in favor of the class action. This will be the last Iphone I ever purchase. Going Samsung Note next time I need to upgrade.
The cellular antenna is the most power-hungry element. If they're concerned about battery issues, it stands to reason that they could reduce antenna power.