The watch sends a signal about how much you make according to a female friend of mine. (She is very into finding a guy with deep pockets---part of the reason we are friends and not more).
As for the phone, it depends on what you need it for. For instance, my old phone made calls and texts just fine, but the memory became an issue. Also, in some cases with phones, new apps will not work with old operating systems and the iOS cannot be upgraded on some old iPhones.
Sharper screen clarity on newer phones. Again depends on what your need is.
TVs come with better pictures and more features than older models.