We’ve got fresh 2020 data on which phones are holding their value and which phones aren’t – useful information if you think you might want to trade your current handset in for a newer model in the near future.
A new annual report put together by cash-for-gadgets enterprise MusicMagpie is based on trade-in data collected from its own deals with customers. As well as showing which handsets hold their value, the report also gives some hints about when the best time to upgrade might be.
Unsurprisingly, it’s the Apple iPhones that lose value the slowest – 43% on average after the first year, and 61% after the second year. Samsung is in second place, with its handsets dropping in value 64% on average after 12 months and 76% after 24 months.
OnePlus phones, in comparison, see an average drop of 64% in the first year and 81% across two years. Google’s stats are 67% for one year and 79% for two years, while Huawei phones drop 74% after one year and 88% after two.
The price is right?
The iPhone 11 is still a highly sought after bit of kit, MusicMagpie reports – you can sell it on for just 32% less than what you paid for it a year after release. That’s something to think about if you’ve got your eye on an iPhone 12.
When a new iPhone hits, old iPhones drop in value by an average of 11% in the first three months afterwards, the summary says. Apparently the iPhone 7 is the iPhone that most people are trading in right now – if you’ve been thinking of doing likewise, check out our guide on how to sell your iPhone 7.
All kinds of factors affect trade-in prices, including the brand name, how soon a replacement phone is expected, and how long you can reliably expect phones to get updates for – something Apple excels at with iOS.
If you head to the 2020 report put online by MusicMagpie you can search for your own phone and see how much it’s depreciated in price so far. It shows one benefit of paying top-tier prices for your smartphone – it’ll have more trade-in value too.