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Apple will update iPhones for at least 5 years in rare public commitment
(arstechnica.com)
This is a most excellent place for technology news and articles.
try it yourself, but dont expect it to be good. a lot of hardware sold today, especially very cheap hw on the 3rd world, still has similar performance than 15year old hardware. think atoms celerons and such.
if it were up to me id be running linux on it, but it works if you need it to.