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We all probably know that. Once we buy something new, the moment it starts to lose its value. In the past, we commented that we just came home with a new car and its value dropped by 20 percent. Nowadays, the same could be said about smartphones.

Once we unpack the box and remove the transparencies from the new phone, its value drops by at least 10 percent. Timely replacement of your old smartphone with a newer model will protect you from losing its value. Where do the vast majority of people make mistakes? It gives an overview of how current models are doing with the loss of value musicMagpie.

Apple iPhone 13 Pro | Source: Miroslav Schwamberg

The portal published the results of a survey of 2093 mobile phone users in the United Kingdom. The survey looked at the business habits of these users. The results were combined with our own data on the decrease in the value of smartphones, thanks to which it was possible to obtain quite interesting data. Here’s how much a user loses if they decide to replace their smartphone too late.

Where do most people lose the highest value when replacing an old smartphone with a newer version?

As an interesting fact, we could mention that 61 percent of people do not sell their old smartphone as soon as they replace it. On average, it takes six months. During this time, the value of the smartphone drops by essentially half.

In practice, up to 16 percent of people simply do not realize that over time, their smartphones lose value. One in ten respondents think it pays to postpone selling the phone. What’s worse, a third of respondents don’t sell their phones at all. It simply stores them at home and thus contributes to the accumulation of electronic waste. The proportion of such people is increasing with age, a total of 42 percent of respondents over the age of 45 will not evaluate their phone in any way after the exchange.

Replacing the old with the new Android vs. Apple | Source: Miroslav Schwamberg

It is necessary to realize that it does not matter what phone we are talking about. The value of individual brands decreases at different rates. In the survey, the Apple model was the most successful, losing an average of 41 percent after twelve months and about 60 percent after 24 months.

Samsung came in second, losing an average of 64 percent after 12 months and up to 77 percent of its original value after 24 months. At the tail of the ranking are brands such as Google, which loses 83 percent of its value after 24 months, and Huawei, which loses 87 percent of its original purchase price over the same period.

How not to lose too much?

So how a timely replacement of an old smartphone with a new one will protect you from losing its value. The survey found that premium models hold their value better than those available. Smartphones, which currently exceed the purchase price of EUR 1,000, will experience less loss of value after 12 months than more affordable models.

It is also true that the largest loss occurs in the first six months after the purchase of the equipment. Google Pixel 3a lost up to 64 percent of its original value during this period. The increase in the percentage of loss slows down in the coming months. Below are the average value losses for selected models.

graph, value loss
Loss of Smartphone Value Source: musicmagpie.co.uk

So when is it worth selling a used phone? It is definitely true that the longer you wait, the more significant the loss will be compared to the original price. The price is also significantly affected by the release of new models of your phone. The key to the lowest possible loss is to replace it with a new model as soon as possible. The longer you resist the new model, the lower the value of your current smartphone.

Timely replacement of your old smartphone with a newer model has several benefits. Losing the value of your current phone is one of the good reasons not to delay the upgrade. The sooner you replace your old smartphone with a new one, the lower your loss will be. However, this is not the only reason.

Let us mention, for example, the development of new technologies. If you want to use 5G networks, there are currently more and more models available that support this technology. Another good reason is the elimination of electronic waste. The sooner you move your smartphone to another user, the less likely it is that it will not end up among the discarded pieces in the landfill.

Source: MojAndroid.sk by www.mojandroid.sk.

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