Planning to upgrade to the new Samsung Galaxy S10 after its February 20, 2019 launch? Or do you have an old Samsung lying around in a drawer somewhere at home?
Whatever the reason for getting rid of your old Samsung, this week is the best time to sell, as new research from tech site musicMagpie has revealed that Android devices – in particular, Samsung handsets – could lose up to 35% of their value once the S10 is available.
Consumers who purchased the Samsung Galaxy S9 following its 2018 launch can expect to earn £300 if they trade-in now, and those who are looking to trade-in the S9+ could earn £340. This value is set to decrease once the S10 is on the market, so by trading-in early, consumers can ensure they are getting the most money from their old handsets.
musicMagpie’s research also found that S9 and the S9+ lost the same amount of value over a 10-month period, decreasing by 64% – this was more than any other previous Samsung model over the same time period.
Interestingly if the S10 follows the same depreciation pattern as its predecessors, such as the S6, S7, S8 and S9 models, it is set to lose at least 50% of its value in the first month after launch.
Liam Howley, Chief Marketing Officer at musicMagpie, said: “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.”
For more information on phone depreciation, please visit:https://www.musicmagpie.co.uk/phone-depreciation/
Current Trade in Values: