A new smartphone enhances your capabilities, though. They are tools. So the guy waiting for a smartphone instead of waiting to see Harry Potter is going to come away from the experience with more capabilities than he had before. New entertainment like movies just wastes your time and money.

They are also powerful status symbols, like having an expensive Rolex. Someone who is first in their circle with a new iDevice is like a minor celebrity and gains attention and status. Depending on their position that can be converted to things like enterprise sales, intimate partners, etc..