As soon as you take your new smartphone out of the box, it starts to lose its value. It’s just that some models do it faster, others slower. What do you choose in this case?
How does this happen and how much does the value of the phones depreciate depending on the model? A Decluttr report sets out these trends. According to the report, if the pace is maintained so far, the current generation of iPhone models from Apple will lose 15% of its value within a month from the launch of the iPhone 12 line.
Speaking of the iPhone, for the 2019 models, the annual report of the depreciation of the phones from Decluttr made a fascinating discovery: the more expensive a phone is, the less it loses its estimated value.
For example, the 2018 iPhone XS and iPhone XS Max cost $ 999 and $ 1,099 at launch. In the first six months on the market, they lost 43% and 42% respectively. On the other hand, the OnePlus 7 Pro, which cost $ 669 at launch, lost 63% of its value in six months.
iPhone is the better choice, if you want to recover a good part of the money spent on it
Phones that cost more than $ 900 lose an average of 51% in value in the first 6 months, while phones priced between $ 700 and $ 899 see declines of 56% over the same period. Phones tagged at $ 699 or less lose 64% of their value.
If we go further in time, up to a year, the latest generation phones decrease by 58% of their value, the mid-range models depreciate by 65%, and the value of the latest generation units decreases by 66%.
How well do big names keep their value?
After 12 months, iPhone models depreciate by 51%, rising to 67% after 24 months. Samsung phones lost more value after 12 months (67%) and 24 months (80%), as did Google phones (69% and 83% after 12 and 24 months, respectively).
Huawei phones depreciated by 70% after one year and 81% after two years. OnePlus models fared worse, with a decrease of 72% after 12 months and a decrease of 83% after two years.
Some models lose much of their value in an even shorter period of time. Samsung Galaxy S10 5G, one of Sammy’s most expensive phones, lost 72% of its value after just one year.
But this is far from the biggest drop in value. The amazing and sad record is held by OnePlus 5, which, after 12 months, recorded a 91% decrease in its evaluation.
“Apple has maintained its top position, with their mobile phones losing the lowest percentage of value in the first 12 months, at 51%. Mobile phones lose a total of only 67% on average by the end of the average contract period of 24 months. OnePlus mobile phones lose an average of 72% of their value in the first 12 months, but by the end of the average 24-month contract period, the value matches that of Google mobile phones, at 83%. mentions Decluttr in his report.
However, given that the global economy is suffering from the coronavirus outbreak, we still can’t imagine that many consumers will consider this data when deciding which phone to buy. Even knowing about the potential savings, financial problems may not allow a long-term approach yet.