Steven Landsburg's wonderful economics textbook argues that "planned obsolescence" will almost never be profitable. In fact, there's a lot of examples of businesses producing ever longer-lasting goods. The twelve-year streetlight is one.
UPDATE: the link to the CNN story on twelve-year streetlights is broken and I can't find the story elsewhere. However, a similar story is here and a manufacturer's press release is here. Thanks to David T. for pointing out the broken link.