The Snapdragon 801 is from 2013. The Fairphone 2 was released end of 2015. At that point, the Snapdragon 801 was already more than a year old. The Snapdragon 632 is from 2018. The Fairphone 3 was released end of 2019. At that point, the Snapdragon 632 wa already more than a year old.
Last year’s high-end smartphone is akin to this year’s mid-range. The need for a high-end smartphone however has been lowered. Look at the desktop PC industry for reference. Do you really need a high-end desktop machine? Heck, do you even need a desktop machine?
That is the ridiculous trend of the high-end smartphone. What do you need all that horsepower for? You probably don’t, that’s the point. Europeans buy far less high-end smartphones these days (don’t have source at hand). What matters with technology products is that they are “good enough”.
The device has 64 GB storage, 4 GB RAM, and a decent processor. Will this be good enough in 4 years? We can’t tell for sure because we don’t know what is going to happen in those 4 years.
My take is that bezels are on the way out, and all kind of on-board technology is moved to wireless. I also expect convergence between desktop OS (ie. Windows) and smartphone (ie. Android) to take off more. For such, I don’t think FP3 will suffice. For things like AV/VR, I don’t think FP3 will suffice. Some light gaming? Suffice. Browsing, music, movie? Suffice. Taking pictures? Suffice. Wireless payment? Suffice. For the things we currently use our mid-range (not high-end) smartphones for? Suffice. If you need 5G? Not suffice, but do you need 5G? Unless you are sure you do, you probably don’t (I’ve been asking multiple times for use cases of 5G here on the forum; read none thus far). Remember, SD 801 had Cat 4 LTE, SD 632 has Cat 7 LTE. Mobile 4G performance will be better, will have more frequencies. Now, we don’t know how good the hardware is going to age, but we do know it is relatively still easy to replace the modules. As for authentication, we got touchID, NFC, USB-C, but no faceID (camera not suffice for that).
It all stands on the shoulders of Qualcomm though. Will they still support this SoC? Well, the 801 was not a popular SoC, and there was still a higher turnover rate for smartphones.