- Samsung devices depreciate faster than Apple
- The Samsung S9 is set to depreciate by at least 50% in the first month after launch
- The iPhone 8 lost the most value in the first month after launch, in comparison to the 8 Plus and the X
Data from tech buyback site Decluttr.com has revealed that now is the best time to trade-in unwanted Samsung devices, ahead of the much-anticipated S9 launch at the end of February.
Consumers can receive up to 25% more when trading-in ahead of a launch, in comparison to after major manufacturer releases. For those looking to upgrade, trading-in a Samsung Galaxy S8 to Decluttr.com could give consumers up to $290 to put towards the new S9.
Decluttrs study also compared the newly launched iPhone 8 with the Samsung S8 models. The analysis showed the Samsung Galaxy S8, which had a recommended retail price (RRP) of $720, lost 54% of its value in the first month after launch with an average rate of depreciation at 1-2% every month. After nine months, the handset had lost 67% of its value. The Samsung Galaxy S8+, which hadan RRP of $820, lost 56% of its value in the first month after launch, and in the nine months following, it had depreciated by 65%. If the S9 follows the same depreciation pattern as its predecessors, such as the S5, S6, S7 and S8 models, it is set to lose at least 50% of its value in the first month after launch.
In comparison, the iPhone 8 depreciated by 49% in the first month after launch, while the iPhone 8 Plus lost 42% of its value. Once the iPhone X was announced, the 8 Plus took another 10% drop and lost 52% of its value. While the iPhone X has only been out a few months, it has held on to its value by only depreciating 41% in the first month following launch. Currently, it has depreciated by 44%, proving that even though this particular model has had some reported difficulties, its still holding its value.
Liam Howley, CMO at Decluttr.com, said: Our study has shown that it really does pay to not hold on to Samsung devices for too long, as they depreciate a lot faster. With the S9 launch just around the corner, consumers looking to upgrade to the S9 can get more money for their old device now rather than after.
While cars typically lose 19% when driven off the lot, technology items can lose up to an average of 65% once they are taken out of the box, depending on the brand. Our recent cell depreciation study shows that iPhones still hold their value better than Samsung devices, and by the time a Samsung device has had nine months on the market it will have depreciated by at least three quarters, Howley said. When comparing this to Apple, it will take 16 months on average to reach the same depreciation level.
For those looking to trade-in their Samsung S8 now, customers can expect to get up to $290 for a device in good condition, or $331 for an S8+. Using Decluttr.com consumers can get an instant estimate and pre-paid shipping label making their S8 trade-in completely free and painless. Decluttr pays more for used smartphones than any other site or mobile provider buy-back program and payments are delivered within 24 hours of receiving the shipment.
For more information, pleasevisit www.decluttr.com.
Current trade-in values on Decluttr.com are as follows:
|Device||Up to price|
|iPhone 6 Plus||$199|
|iPhone 7 Plus||$446|
|iPhone 8 Plus||$540|
|Galaxy S7 Edge||$171|
|Huawei Nexus 6P||$161|
|Huawei P9 Lite||$60|
|LG Nexus 5X||$81|
Decluttr.com is a fast, easy and free way to sell tech, cell phones, CDs, DVDs, games, books, and Lego.
The service removes all of the stress of selling unwanted items online. All customers need to do is visit the site or download the app, enter the barcode of the item or scan it, get an instant price, pack into any box and ship them for free to Decluttr.
Thanks to Decluttrs fast next day payments, customers get paid the day after their items arrive at HQ by direct deposit, PayPal or check or they can even donate the money they make to charity. To date, the site has paid more than $250m to over 5 million customers – and the service is growing faster than ever.
Decluttr.com has been featured on Good Morning America, ABC News, Fox News, The Penny Hoarder, Fast Company, The Wall Street Journal and much more.
For more information on trade-in values, visit www.decluttr.com.