Are you planning on getting the latest Samsung Galaxy, the Galaxy S10 once it launches on February 20th 2019? Do you already own a Samsung smartphone, or have an old one around your home somewhere?
Well, trade in site musicMagpie have got some news for you! If you want a new one, the best time to sell is NOW! They’ve got a handy chart (seen above) which depicts the value of a range of smartphones after 12 months.
Why is the best time to sell NOW? Well musicMagpie found that Android devices. Such as Samsung handsets. Could lose as much as a 35% decrease in value once the latest handsets release. In this case, the S10.
musicMagpie figure that the Samsung Galaxy S9 since its release in 2018, could fetch £300 if they trade in now. Those that have the larger handset, the S9+ can see a return of £340. However, once the S10 drops the value decrease is said to drop! If users were to trade in early, they will ensure a very good return on their initial investment.
The research from musicMagpie also found that both handsets the S9 and S9+ both decreased in value by 64% over a 10month period. Which was more than any other previous generation Galaxy handset over a 10month period. Suprisingly and interestingly, if the S10 follows the same decrease in value than it’s predecessors, it is set to lose at least 50% of it’s value in the FIRST MONTH after launch.
“With the S10 launch just around the corner, consumers looking to upgrade to the S10 can get more money for their old device now rather than after. The Samsung Galaxy S9 and S9+ lost the same amount of value in the same time and we’ve never really seen that in any other device range – usually, the newer version of the handset takes longer to lose value.
While cars typically lose approximately 20% 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. It’s well documented in our bi-annual depreciation studies that iPhones hold their value better than Samsung devices, and it’ll be interesting to see how much more the Samsung Galaxy S9 will drop in value once the S10 is out.” Liam Howley, Chief Marketing Officer at musicMagpie
For more detailed look at phone depreciation, please click here!
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