Planned obsolescence (also built-in obsolescence (UK)) is the conscious decision on the part of a manufacturer to produce a consumer product that will become obsolete and/or non-functional in a defined time frame. Planned obsolescence has great benefits for a producer in that it means a consumer will buy their product repeatedly, as their old one is no longer functional or desirable. It exists in many different products from vehicles to lightbulbs, from buildings to software.
Planned obsolescence is the marketing strategy of deliberately introducing obsolescence into a product strategy. Obsolescence, in general, is the process of passing out of usefulness. In a business context this means the object is no longer perceived as having value, that is, a product is no longer wanted even though it is still in good working order.