Study shows that consumers can make big savings with patient approach
Consumers should hold off for a few months before buying brand new smartphones, according to a study on depreciation in phone value.
The study by price comparison site idealo.co.uk, which analysed 10 of the most popular handsets sold in the UK in the past year across a number of vendors, found that consumers can save an average of £118 by buying a smartphone three months after launch.
And customers can save up to 28 per cent on the price of smartphones six months after their initial release date.
The Samsung Galaxy J6 saw the biggest percentage price drop from launch, falling 43 per cent from £250 to £143 within three months – and slumping 46 per cent over the first six months.
Samsung’s previous flagship, the S9, also saw a considerable drop in the first three months, by 28 per cent from £739 to £530, while the Google Pixel 3 saw a 24 per cent decline over the same period.
Meanwhile, the iPhone XR and Xiaomi Mi A2 saw the smallest falls after three months, both at seven per cent.
The Xiaomi Mi A2 also saw the joint-smallest decrease after six months, at 14 per cent, but this time was joined by the Motorola Moto G6.
Idealo communications manager Katy Phillips said on consumer purchases: “It pays dividends to do some research and be patient before taking the plunge.
“It was interesting to see that models at both ends of the pricing scale, such as the Xiaomi Mi A2 and iPhone XR, can still retain their value.
“That’s great news for those who want to recoup some money if they plan to sell their devices second hand.”