Quality vs Quantity

I remember when you would by an electronic equipment and it would last you years. Nowadays, you are lucky to hold on to something for a year or two. Cellphones keep being switched every year or two, laptops about 3-5 years, mp3 players live maybe a year. What happened? Has materialism gone to far that we need to keep changing things to get the same rush? Is it like an addiction or just a way of life?