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When we buy a phone, most of us hope that it will last a few years. We also hope that it will still have decent cash value at the end of its life.. However, the cash value depends a lot on the make and model of the device you own.
According to a report by BankMyCell, a site that tracks phone trade-in prices, Android flagships lose twice as much value (-33.62%) in the first year compared to an iPhone (-16.70 %). After two years, the price of an Android phone is down 61.50% compared to 35.70% for an iPhone. In particular, this data does not take into account brand or carrier offers with limited duration.
The report also compares the depreciation in value of two of 2019’s most popular flagship phones: the Galaxy S20 against the iPhone 11. Here’s how their value plummeted after nine months:
- The Galaxy S20 (-34.78%) against the iPhone 11 (-12.84%)
- The Galaxy S20 + (-30.59%) against the iPhone 11 Pro (-21.31%)
- The Galaxy S20 Ultra (-36.30%) against the iPhone 11 Pro Max (-15.96%)
BankMyCell made other interesting observations in the report. He notes that Google’s Pixel series phones lose -38.46% in value in one year – the Pixel 4 tops the overall chart with a depreciation of -40.56% (- $ 160). Sony, Motorola and HTC were the worst performers. Their phones lose 39.51%, 42.57% and 53.08% respectively over a 12 month period.
There are several factors in the depreciation of the price of a phone, such as the availability of software updates, longevity and performance of the hardware. Apple iPhones are renowned for having quality hardware that continues to receive software updates for years to come. By comparison, despite receiving quick software updates, Google’s Pixel phones often face serious hardware issues, and this is reflected in the report.
You can view your phone’s depreciation in value here.
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Published January 21, 2021 – 09:38 UTC
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