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IIRC Liferay supports two active versions at a time. So 7.2 is out so technically you'd have until 7.3 comes out.

I think this however only covers the general case, specifically I think you can opt for extended support, but you'll need to work out those details with your sales representative.

And, of course, you shouldn't take my word for all of this, your sales rep should really be your go-to resource for these details.

I am an EE customer. Does anybody know how long Liferay is going to support 7.1?

You'll find that information on Helpcenter and, of course, in your contract.
In case you don't have access to your company's data: It's premium support for 4 years after release, followed by an additional 3 years of limited support. David mentioned 2 active versions, which is only half the truth: Within those 4 years there will always be at least 2 active versions, so that you don't have to upgrade from one to the next version, but can skip at least one version in between. But it's a minimum.

Product	First Ship Date (FSD)	End of Premium Support	End of Limited Support
Liferay DXP 7.0	June 15, 2016	June 14, 2020	June 14, 2023
Liferay DXP 7.1	July 10, 2018	July 9, 2022	July 9, 2025
Liferay DXP 7.2	June 4, 2019	June 3, 2023	June 3, 2026

Plus, AFAIK you can extend the individual support periods. But for that I'd definitely point to your sales rep

Olaf is right and I think this's the point:
"you don't have to upgrade from one to the next version, but can skip at least one version in between"
Having releases more frequently doesn't mean you need to upgrade every year, the Support life per release remain the same as before (7 years).Cheers!

Thank you very much.