Your Samsung Galaxy S24 Ultra Is Now More Valuable – Forbes
The Apple iPhone 16 plus during an event at Apple Park campus in Cupertino, California, US, on … [+]
Your Samsung Galaxy phone is becoming more valuable, according to new data.
The report comes from smartphone secondary marketplace Sell Cell, which crunched the trade-in and resell prices of iPhones and Samsung Galaxy devices over the last few years. The data shows that Samsung phones are depreciating at a slower rate with every release, while Apple handsets are losing value faster.
For example, the Galaxy S22 series lost on average 66.7% of its value in the 12 months after launch. However, the Galaxy S23 only lost 61% in the same time frame, which is a 5.6% improvement.
The data also shows some promising results for the Galaxy S24, which launched in January this year. In the six months since its release, the Galaxy S24 range has depreciated by 50.4%, whereas the Galaxy S23 and Galaxy S22 lost 54.1% and 54.4% in value in the same period.
At the same time, Sell Cell’s number crunching shows that Apple’s iPhone range is slowly losing its value.
“The iPhone 13 lost 46.2% of its value after 12 months. This is a 2.4% increase in depreciation compared to the iPhone 12. The iPhone 14 lost 47.7%, 1.5% more than the 13-series. The iPhone 15 comparatively lost 48.2%, a 0.5% increase on the 14.” The report explains.
This tallies with other research from Compare and Recycle, which also shows that the depreciation rate for iPhones is increasing with every new release. Read about that here. Despite this, iPhones still keep more value than any other smartphone brand according to Sell Cell, a claim that Apple itself likes to tout.
We can see this playing out in how companies value phones when trading in to buy a new device. Samsung offers big money for old iPhones when trading in to buy a new Galaxy handset. Samsung also values its own devices highly. Earlier this month it was paying upwards of $800 and $600 for the Galaxy S22 Ultra and Galaxy S21 Ultra respectively when buying the Galaxy Z Fold 6.
What we can see here is that Samsung is moving away from its Android competition and creating the aura of quality in the minds of consumers. If you look at trade-in prices for Google Pixel devices, they pale in comparison to Samsung and Apple handsets. If you own another Android branded handset, Samsung will list it as “other” when trading in and offer $50 for it.
What will be interesting to see is if second-hand pricing for Google Pixel phones also trends upwards in the coming years. Recent research suggested that Pixel sales are improving. Combine that with the company’s new(ish) seven year guarantee of security and software updates, the Pixel 8 and Pixel 9 will still be useful for second-hand buyers for several more years.
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