- noun the process of a product going out of date because of progress in design or technology, and therefore becoming less useful or valuable
- The condition of being out of date. A loss of value occasioned by new developments that place the older property at a competitive disadvantage.
- A decrease in the value of an asset brought about by the development of new and more economical methods, processes, and/or machinery.
- The loss of usefulness or worth of a product or facility as a result of the appearance of better and/or more economical products, methods or facilities.
- noun the state of becoming obsolete by being replaced by something new