obsolescence

obsolescence definition - business

obsolescence

The diminished value of an asset because of reduced productivity compared to alternative assets. Obsolescence is particularly evident in computers, as new models with more memory and faster processors result in obsolescence of older models that remain functional.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

Comments
Improve this definition.
Do you have more to add? Share your linguistic knowledge or observation.
/Register to save your comments.