APPLE’S iPhone and Samsung’s Galaxy S10 are two of the most popular smartphones in the world right now …but one of these handsets hasn’t held its value anywhere near as well as the other.
Samsung’s Galaxy S10 and Apple’s iPhone are tough devices to beat right now – with both offering impressive features and DSLR-conquering cameras. Choosing between an S10 or an iPhone can be tricky, but one of these devices does have a massive advantage over the other, according to new findings. If you want a phone that won’t plummet in value the moment you pop it in your pocket then there’s only one winner.
It’s well known that Apple tech generally has excellent resale value but a new report from bankmycell has revealed just much of advantage the iPhone has over rivals such as the Galaxy S10. According to its research, Samsung’s Galaxy S10+ lost the most value in 2019, with a massive $373 (£290) drop in its value.
Compare that to the iPhone and it’s not hard to see why Apple’s flagship has such a big advantage.
Apple devices lost an average of just 25.98 percent between January and December 2019. Bankmycell says that on average, Android flagship phones depreciate twice as fast, losing 45.18 percent of their trade-in value in the first year – iPhone’s lose 45.46 percent on average by the end of year two.
Speaking about the trade-in values, bankmycell said: “We tracked the trade-in price from either 1st January or the first available trade-in value from the smartphone release date. As you can see from the data, the most significant value losses come from flagship smartphones, of course.
“These sizable drops include Android devices such as the Galaxy S10 that were only released just before Q2, meaning phones like the S10+ lost almost $400 in 9 months.”
Here’s how your phone compares which it comes to depreciation
Ranked Best to Worst:
Apple devices lost an average of -25.98% between Jan – Dec 2019
Nokia devices lost an average of -27.68% between Jan – Dec 2019
Sony devices lost an average of -31.30% between Jan – Dec 2019
HTC devices lost an average of -32.01% between Jan – Dec 2019
Samsung devices lost an average of -34.42% between Jan – Dec 2019
BlackBerry devices lost an average of -34.92% between Jan – Dec 2019
Google devices lost an average of -51.68% between Jan – Dec 2019
LG devices lost an average of -56.76% between Jan – Dec 2019
Bankmycell isn’t the only firm warning about the S10 crashing in price. With the impending release of the S20, the Galaxy S10 could see trade-in costs plummet.
In fact, recent research from musicMagpie reveals that old Android devices – in particular, Samsung handsets – can lose up to 35% of their value following a new release.
Liam Howley, Chief Marketing Officer at musicMagpie, said: “With the new Samsung launching soon, lots of people are planning to upgrade. From our data, it’s clear that those people should sell their old phone now rather than wait around.
“The S9, for example, lost 73% of its value by the time the S10 arrived. A month before the launch, it had only lost 59% of its value – if you sold earlier, you’d have got an extra £100 towards your upgrade.”