Your Old iPhone Will Lose 30% In Value Within 24 Hours After iPhone 11 Launch

A Thursday report says that older iPhones’ prices will soon drop dramatically, the prediction comes from Decluttr, a service that lets people trade in their old phones. According to the company, within 24 hours from the announcement of the iPhone 11, previous iPhones can lose as much as 30 percent of their present resale value.

Apple has sent invitations to the media for its next big event at 10 a.m., on September 10, at the Steve Jobs Theater located in California, where it will announce the iPhone 11.

However, even the models are likely to lose about 40 percent of their value within the first month of launch. Then, after each month, they will lose another 1 percent of value, Decluttr stated.

Since the iPhone X was launched less than one year ago, its value has gone down by 59 percent compared with its original value. Meanwhile, the iPhone XS has lost 49 percent of original value, and the iPhone XR has lost 43 percent of its original value, said Decluttr in its study for 2019 phone depreciation. As of now, these smartphones cost Rs 34,588, Rs 46,357, and Rs 33,153, respectively, the company reported.

It also pointed out that the value of the iPhone 7 has dropped by 81 percent, the figure for the iPhone 8 is 65 percent while that of the iPhone 8 Plus is 61 percent.

In terms of Android smartphones, the phone refurbishment service said that the Samsung Galaxy S10 has lost as much as 57 percent of its original value within months since its launch. Meanwhile, the S10 Plus’ value has dropped by 52 percent upon trade-in. These findings tie in with a June report revealing that the S10 lineup lost half of their value within the first month after launch.

Besides, Decluttr reported that the Google Pixel 3X has lost 58 percent of its value just half a year after it was launched.

According to chief marketing officer at Decluttr, Liam Howley, the lack of innovation is the reason behind phone depreciation.