The value of phones depreciates over time due to several reasons. Technology is constantly advancing, which means that newer models with better features are released regularly. As a result, older models become outdated and less desirable, leading to a decrease in their value. Also, wear and tear is a natural process that occurs with daily use of a phone. Scratches, dents, and other damages can reduce a phone’s value significantly, even though that might differ from device to device. The availability of newer and more advanced technologies at lower prices also affects the value of older models. Finally, market demand also plays a crucial role in determining the value of a phone. As newer models are released, the demand for older models decreases, leading to a decrease in their value. Speaking of newer models, the Samsung Galaxy S23 was launched a couple of months back, but in a short period of time, the value of the device has depreciated by 43.3 percent, which is almost 1.5 times more than the iPhone 14.
The latest data reveals that the Samsung Galaxy S23 has lost 43.3% of its value for a phone in “like new” condition, after just two months post-launch. While this may seem like a significant depreciation, it’s important to note that it’s a notable improvement from its predecessor, the S22, which lost three times its value compared to the iPhone 13 in the same timeframe. The iPhone 14 series, on the other hand, has proven to be the best performer, with an average depreciation of 31.0% after two months.
Unfortunately, Google’s Pixel 7 is the worst performer of the three ranges, losing 45.9% of its value across the range in just two months post-launch. The tech giant has attempted to counter this with a $150 discount on the Pixel 7 and Pixel 7 Pro, but this still means that the value of the smartphone suffers even more for those who paid MSRP at launch.
When looking at handsets in good condition, the results are similar to those in “like new” condition. The iPhone 14 range regains some of its lost value, with an average depreciation of 35.0% after two months, while the Galaxy S23 drops in value by 47.7%. Despite some improvements from Samsung, the iPhone still holds its value better than any other handset on the market.
RELATED:
- Samsung Warns Not to Use These Accessories with Your Galaxy S23 Series
- Samsung Free rebrands to Samsung News to focus on News content
- Best Chromebooks under $300 in 2023
(Source)
