Data from tech-buying site Decluttr.com has revealed that Apple devices retain most value out of all smartphone brands, with rival Samsung coming second in the phone depreciation stakes.
Even though more than 53 percent of the U.S. smartphone market is held by Android*, depreciation data from Decluttr.com has revealed that Apple is best for your buck, with iPhone models depreciating at a slower rate than other brands.
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When comparing the iPhone 7 with the Samsung Galaxy S7, the newest iPhone model only lost 34 percent after a month on the market, while the S7 lost 50 percent of its value over the same period.
The study also revealed that newer iPhone models also hold their value better as each version is released. For example, the iPhone 5 lost 65 percent of its value after six months on the market, whereas the SE and 6s lost less than 40 percent in the same period.
“The clear winners when it comes to phone depreciation are Apple users. iPhones have a reputation of being premium products and after the initial fall in price when a model is launched, the iPhone holds the most value after a 12-month and even a 24-month period, which are both average contract lengths,” said Liam Howley, Decluttr.com marketing director. “This is good news for savvy consumers who are looking to cash in after their phone contract ends as they know they’ll get the best value from their old iPhone.”
Howley also noted that while Apple and Samsung models tend to cling to their value better, the newest models of the LG and HTC phones shed it quicker. “This really does paint a picture of an industry where brands are struggling to keep up with the dominance of the mighty Apple and Samsung within the market,” said Howley.
Decluttr’s study revealed that the HTC One M9 lost 65 percent in value in just the first month of being released, making it the biggest depreciator while being barely out-of-the-box. After a year, the phone lost 75 percent of its value.
At the end of a 24-month period, which is often the average contract length, it was HTC that performed the worst out of all brands. The HTC One M7 lost 86 percent of its value, with the HTC One M8 not far behind, losing 83 percent of its value after two years.
For more information on the study, please visit: http://www.decluttr.com/blog/2017/04/05/how-quickly-does-your-phone-depreciate-in-value/
*Based on comScore report Jan. 2017: http://ir.comscore.com/releasedetail.cfm?releaseid=1016572
Decluttr.com is a free and easy way for customers to get cash for their unwanted CDs, DVDs, books video games, mobile phones and other tech items including Games Consoles, Tablets, iPods and more all in one place.
The company’s website and smartphone apps mean that anyone can easily sell their unwanted products and reap the benefits – from making a little extra cash and freeing up valuable space in the home, to reducing the need for borrowing and minimizing their impact on the environment.
Decluttr.com gives customers an instant reward value for their unwanted stuff using a smart valuation engine named ‘Val’ and it pays out via check or bank transfer on the next working day after the goods are received.
For more information on trade-in values, visit www.decluttr.com.