As the smartphone prices continue to rise, an increasing number of individuals want to get maximum trade-in value on the day of the upgrade.
According to a report from BankMyCell, a company that keeps track of devices’ value at the time of trade-in, the flagship Android phones lost twice the value as compared to iPhones.
As per the numbers shared by the company, the Android flagships saw a 34% value decline during the first year of device ownership in comparison to around 17% decline saw by iPhones. Quite surprisingly, the numbers continue to get worse as you move down the aisle. And, it gets horrific after four years.
According to the report:
- In one year, the current average depreciation of a new iPhone’s trade-in value is -16.70%, compared with Android’s -33.62%.
- In two years, the current average depreciation of a new iPhone’s trade-in value is -35.47% compared with Android’s -61.50%.
- After four years, the gap begins to close, with iPhones losing an average of -66.43% of their initial buyback value, compared with Androids -81.11%.
There could be lots of underlying reasons for this, but the iPhones becoming more desirable than ever in the used market is a major factor. This same trend shows for the number of years an update is released for the iPhones in comparison to relative Android phones. And, this isn’t new, either.
Such numbers can also be found in similar reports for recent years with Apple’s iPhones getting the better of Android flagship devices when it comes to residual value.
Have a look at the complete report and explore all such numbers. Make sure you don’t go for it if you are planning to buy a Galaxy S1 Ultra.