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Karen Egan, head of telecoms at Enders Analysis, said that in the past the only way to keep up with the rapid development in mobile technology was to buy a new phone. “But now new models are just an evolution of the previous one rather than introducing revolutionary change.”

She said that with better battery lives and software updates older phones can do many of the same things as the latest models and “people are happy to hold on to them for longer especially with the cost of living crisis continuing to bite”.

She agreed with Ives that the average replacement cycle in the UK had doubled since 2020 from just over two years to about four years. “People need to feel they are missing out on new features in order to get them to upgrade.”

“At the very top, people are still upgrading,” Egan said. “They’re the people that are still on the contracts with a free upgrade every two years. They’re similar to the people who lease cars and get a refresh every few years.”

“The proposed merger would have been voted against by a huge number of external shareholders,” says Claire Enders of Enders Analysis. “I don’t think the issues put forward then are going to go away. With lawsuits against Fox and the Wall Street Journal I don’t think a merger will be at the top of the list.”

Claire Enders, from Enders Analysis, said Channel 4 had made an “excellent appointment”, adding that Mr Cooper’s extensive board experience made him well-suited to the requirements of the role.

"You know that there will always be a conservative guardian of Fox News. And frankly, if I were a shareholder, I would really think this was a very good move," said Claire Enders, CEO and founder of UK-based media research firm Enders Analysis.

“This momentum with creators is something Snap can build on to make advertisers excited about the platform again,” said Jamie MacEwan, senior research analyst at Enders Analysis. “Getting noticed above the noise is key as Snap relies on a relatively small number of advertisers, so even a handful deciding to divert that spend elsewhere is a problem, but that also means Snap has an opportunity to swing back into a strong position.”

François Godard, an analyst at the British consulting firm Enders Analysis, believes the takeover is advantageous for the German company because management can now focus on its operational business again: "The takeover provides Pro Sieben Sat 1 with a more solid financial basis and better prepares it for crises."

A larger group like MFE can offset regional economic weaknesses. This is already an advantage, because the advertising market in Italy and Spain is growing while Germany is in recession. Furthermore, Godard says, more resources are available for investments in technology.

Analyst Godard sees the greatest risk in management: "Will the Italians find the right balance between strategic orientation and local autonomy?" In Spain, he says, this has been achieved.

The takeover is part of the latter’s strategy to create a pan-European operator - using its Mediaset outfits in Italy and Spain – to rival US-based streamers such as Netflix. It is set to claim total revenues of €6.8bn (£5.89bn), according to Enders Analysis.