1.Increased software development costs - Costs increase because software has to be designed to fallback to alternative implementations when the newest OS, browser, database, etc. features are not available.
2. Increased performance optimization costs. Older devices tend to be slower and this means software engineers will have to spend more time optimizing programs.
3. Increased testing costs - You need to test all features on older and newer devices.
The other problem is it might not be worth it to support older devices. Basically, supporting older devices may not be profitable (i.e. too few users who do not generate enough revenue to justify the increased costs).