An interesting report was published by BankMyCell about the retention of value of smartphones on the US market. BankMyCell analyses smartphone trade-in prices and offers guidance in the trade-in and recycling process.
Great to see Nokia smartphones ranked #2 for the best phones to hold their value between 2019-2020. Nokia phones are designed without compromising on style and durability – our version of Android also gets better over time. #ItJustKeepsGettingBetterhttps://t.co/WRVsOhFu90
Their report showed how the resale value of popular smartphone brands changed in the period of one year, from January to December of 2019, with phones released in 2018. As far as I can see, the data is based on the US market, so I wouldn’t translate the figures on a global level, but if you live in the US, they will probably be of use.
As expected, Apple’s iPhone is best at value retention with a devaluation of 25.98% in a one year period. This means if you bought a 1000$ iPhone in January of 2019, you could sell it for 750$ in December of 2019. The second best brand is Nokia (27.68%), making Nokia also the best Android brand in this category. The phone mentioned in report is the Nokia 7.1, that lost just 16.67% of value in trade-in, but was traded-in at the frequency of an HTC U12+. In the meantime, Nokia’s official store in India sells the phone at half the price.
I personally would never suggest buying a smartphone for their resale value, especially in today’s market where lots of competition is driving prices down a lot. Maybe the US is an exception because Apple has half the marketshare and the only high end competitor there is basically Samsung. Anyway, tell us down below what do you think of this report and how important is resale value in your smartphone purchasing decision? 🙂