Typically, when we snag the latest gadgets, we’re well aware that the second we crack open the box and hit the power button, their resale value takes a nosedive. Not too long ago, we spilled the beans that Apple’s smartphones usually outshine Android flagships in retaining their value, and the iPhone 15 is no exception.
Three months post-launch, the iPhone 15 has only shed 27.9% of its value, which is 27.1% less than its Android counterparts. On the Android side, despite a 43.5 % dip in value within the first two months, the Galaxy S23 series managed to hold onto its value better than other Android flagships. So, that made us wonder, what’s the deal? Why iPhones held more value in 2023 than Galaxy S23? Let’s dig into the nitty-gritty.
First on the list is brand loyalty. According to stats, Apple has a very strong brand reputation for quality and innovation, fostering a deep sense of loyalty among its customers. This translates to a high demand for used iPhones, pushing their resale prices skyward.
This brings us to the second factor—the strong resale market. There’s a massive and well-established market for reselling iPhones, with countless online and offline retailers dealing in second-hand Apple devices. This makes it a breeze for folks to fetch a good price for their old iPhones.
Then, there is Apple’s commitment to software support. The company stands by its iPhones for much longer than the majority of Android phones, including the Galaxy S23. Samsung pledged four years of Android OS and five years of security updates for the Galaxy S23 series.
In contrast, Apple committed to dishing out iOS updates for iPhones up to seven years post-release. This means the iPhone 15, launched in 2023, is set to receive iOS updates until 2029. Keeping a phone up-to-date with the latest security updates and features for longer makes it more desirable to buyers.
One potential influencer is the seamless integration of iPhones with Apple’s expansive ecosystem, including MacBooks, iPads, AirPods, and Apple Watch. This tight-knit ecosystem ensures a smooth user experience, encouraging users to stay within the Apple universe and giving their iPhones an extra boost in resale value.
What’s more? iPhones generally have robust build quality and are known for their durability. This reputation for longevity contributes to their resale value, as buyers are confident that used iPhones will continue to function well for an extended period.
Buying a new smartphone, especially a flagship, is a financial decision that requires careful consideration. Forking over more than a grand for a smartphone isn’t something most of us can do on a whim, so understanding how its value holds up over time is key.
As I said earlier, the moment we unbox our shiny new gadget, its value takes a dip. But hey, that is the whole point, right? To treat ourselves and actually use the darn thing. Not everyone has the patience to stash away their brand-new smartphone for years, hoping to strike it rich when they finally decide to sell it—like the recent sale of the original iPhone 4 for a whopping $158,000. Talk about holding value!
Sure, there are more factors at play, so don’t hesitate to leave a comment and let us know your perspective on why used iPhones consistently hold a higher value than Galaxy S series smartphones.
