For those planning to sell their old iPhone models, timing is most crucial.
With Apple all set to launch its latest mobile devices, the iPhone 11 series on September 10, many iPhone users may plan to replace their old handsets with the new ones. However, for those planning to sell their old iPhone models, timing is most crucial.
While releasing the results of the annual Phone Depreciation Study, Decluttr, the firm that sells and buys used electronics, said those who are waiting to sell their devices until after Apple launches its latest handsets, may find the trade-in values of their old iPhone devices falling.
It further went on to suggest that within 24 hours after Apple launches its latest products, the value of old iPhones drops by 30 per cent, which makes it a bad timing for customers for initiating a trade-in.
As the price of the latest iPhone handsets is likely to hit the $1,000 mark and more, the trade in value will be a significant loss. Giving an example, the firm said that while the price of iPhone XS was $646 last year at the time of the launch, it would get down to $452 when exchanging, once the new sets are released on September 10.
Apart from iPhone models, Android phones may also lose their value, Decluttr noted in the report. Galaxy S10, the Samsung’s flagship phone that launched earlier this year, has already lost 57 per cent of its value. Under the trade in currently, it is currently worth $452.
The study has also found that as the time passes by, the trade in values dip at a slower rate. In 2017, after the iPhone X was released, it lost 43 percent of its value after six months of its launch. But after the first drop in value, its exchange value dropped 16 per cent only, and is currently worth $482 – a 59 per cent dip overall on the launch price.
Apple is holding its iPhone event on September 10 at 10:30 pm IST where it will announce the 2019 iPhone models, which are speculated to be known as iPhone 11, iPhone 11 Pro, and iPhone 11R that will succeed last year’s iPhone XS, iPhone XS Max, and iPhone XR, respectively.