Why does Apple keep releasing new products every year?

Why does Apple keep releasing new versions of the iPhone every year? Sometimes the newer version really doesn't make a difference from the older version.

Also am I the only one who hates it when they release new versions of the iPhone?
Like I want to an iPhone but I'm scared that they'll come out with a new one making mine look old even though I just bought it.

Added (1). Woah! There's no need to throw unnecessary hate in my direction. Mmmkay

So people will keep buying new products, of course--like you, many people don't want to have an "old" phone and will prefer to have the latest model, regardless of whether it's a major improvement over the previous.

Keep in mind that companies like Apple are in the business of making money. Sometimes the most profitable route is to provide the best quality item, but sometimes it is more profitable to skimp on quality. What's best for business is not always what's best for the consumer, although the system works well on the whole.

Because people like you lol… "Like I want to an iPhone but I'm scared that they'll come out with a new one making mine look old even though I just bought it."… How can it look old? Lol it's only a year. And they make new ones because they want your money, and there products are so "revolutionary". I hope android throws a law suit on them for copying them on iOS7, like apple sued Samsung

Quite simply because people like you feel inferior and by the latest they make cash you boost your stupid ego on fuudbook as you have the newest bestest phone in the universe… You and 5 million others!

They just want people to buy them so they could get more money

They release new products every year because they can. Every iPhone features a faster processor, more hardware features, and usually a new iOS version is introduced. All iPhones have a support life of about 4 years as well, and since your average mobile contract length here in the US is two years, you don't have to buy the latest iPhone since you'll get a solid two years of support and solid performance for the length of your contract.

You are not alone. Apple needs money, they are not doing any artistic job, just some little fixing of the main idea. Anyway, you are right.

Its called progression. Technologies get better, smaller & therefore improve the experience for the user.

You also have to look at the differences entirely rather than just some surface watch to see that their are true benefits to the newer model.

So yes they will come out with a newer model. Its not to say you have to buy every single model (though some do so)

Yes, they are making too many unnecessary changes, far too quickly.

They should've kept with Steve Jobs original designs, but improved the software, and specs. Or improved battery life, camera… Etc.

Instead the focus seemed to be intensely and exclusively on the hardware. Except, after this new software update.

I honestly would like to buy an unused original model iPhone that was made during Steve jobs era. The software was tolerable, and the overall look wasn't TOO bad.

If I brought a new phone today, they might come out with another one in a few months. Lol.

Because people keep buying them.

Also, because their competitors are also coming out with new models (with new capabilities and features) all the time. They have to keep up with the competition.

Imagine if Apple was still selling iPhone 3's against the forthcoming Galaxy S5, or the Note 3?