Definitions

1. noun

the act or process of gradually reducing or eliminating something, especially a product or service

“The company plans to implement a phaseout of their old inventory over the next quarter.”

2. verb

to gradually reduce or eliminate something, especially a product or service

“The government will phase out the subsidies for the environmentally friendly cars by the end of the year.”

3. verb

to bring something, especially a product or service, to an end

“The company will phase out the production of the car model next year.”