A loss in the utility of an asset due to the development of improved or superior equipment, but not due to physical deterioration.

Use obsolescence in a sentence

You should try to make a product that will never end up in obsolescence so that you can always sell it.

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There was a lot of obsolescence with the utility and it was because of the improved equipment that was developed recently.

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Apple's dominance in the laptop, smart phone, and now wearable markets has led some to strongly argue for Microsoft's obsolescence.

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functional obsolescence Net Domestic Product