Can iPhone 7 update its software this year?

The iPhone 7, will only update to iOS 15.8.7 A system update has not been issued for a 7 in several years and is unlikely to ever be released.

There are different ways to ensure the highest iOS that your device will support is installed on your device. When updating, your device will update to the highest version currently available that it will support, or it will just say it is up to date (and can't go any higher) and won't install anything. If you want to run a higher system version than your current device is capable of running, you need to buy a newer device.

This support article has instructions about updating an iPhone or iPad wirelessly --> Update your iPhone or iPad - Apple Support

If you mean 15.8.8 or any further updates Apple may release for 15, yes. Otherwise, no.

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The iPhone 7 ran iOS 10 when Apple introduced it in September 2016 – about ten years ago. It received five major updates, and can run the latest release of iOS 15, but will never receive updates to iOS 16, 17, 18, 26, or 27. For the iPhone 7, iOS 15 is the end of the line.

About iOS 15 Updates - Apple Support

As MacTracker history shows, while iOS 15 came out in September 2021, it has received several bug fix and security updates this year.

If your iPhone is not already running the latest release of iOS 15, you should update it before next January, to ensure that it receives the updated security certificate needed for things like Messages and FaceTime to keep working.

Update your iPhone or iPad - Apple Support

You cannot update the software on the iPhone 7 unless an update is available. It does not matter what year it might be.

Tap Settings > General > Software Update

If you see a message that your software is already up to date, then there are no updates available for your iPhone 7.

If an update is available for your iPhone 7, it will appear and you can proceed to update the iPhone 7.