It's not meant to replace the FP4 for people who already use it. The entire point of Fairphone is you can continue to use your phone for 5-7 years because you don't want to upgrade every year.
The FP5 is intended to keep their product modern to bring in new users.
Consider that the FP4 came out in 2021 and is supported through 2027. It's 2 years old now, which is fine for people who want to use it. They still have 5 years of life on it.
But if someone is considering ditching their old Pixel 4 which is no longer receiving updates, are they going to want to buy a phone which is already 2 years old? Probably not.
If Fairphone didn't release a new phone until the release cycle of the current one ended then the only option people would have is buying 6 year old phones.
They still have to make regular updates in order to attract new customers. They are banking on a customer base that does not feel the need to upgrade to the latest and greatest every 1-2 years.
Also, if they keep older phone designs in production then they'll have to reduce the length of time that they can support them for as their suppliers such as Qualcomm won't support them for as long.
The FP5 is intended to keep their product modern to bring in new users.
Consider that the FP4 came out in 2021 and is supported through 2027. It's 2 years old now, which is fine for people who want to use it. They still have 5 years of life on it.
But if someone is considering ditching their old Pixel 4 which is no longer receiving updates, are they going to want to buy a phone which is already 2 years old? Probably not.
If Fairphone didn't release a new phone until the release cycle of the current one ended then the only option people would have is buying 6 year old phones.
They still have to make regular updates in order to attract new customers. They are banking on a customer base that does not feel the need to upgrade to the latest and greatest every 1-2 years.