In one month consumers wanting to trade-in their old iPhones could lose up to 30 percent of it’s value
(PRWEB UK) 12 September 2013
On the day of the iPhone 5S and 5C announcement:
- iPhone trade-in valuations are up 269.57 percent across the board, down from 831.93 percent during the iPhone 5 announcement
- Overall device valuations on the site increased by 54.89 percent, down from 255.29 percent during the iPhone 5 announcement
- iPhone 5 is the most popular device, with trade-in valuations reaching 1,033 percent, down from the iPhone 4S 3,600 percent increase during the iPhone 5 announcement
- Apple takes up 46.98 percent of all online valuations
- Consumers wanting to trade-in their old iPhones a month from now could lose up to 30 percent of it’s value
- Consumers can earn up to £125 extra by comparing iPhone trade-in prices with comparemymobile.com
Mobile phone recycling comparison site CompareMyMobile.com has reported a 269.57 percent boost in iPhone trade-in valuations – following the announcement of the much awaited iPhone 5S and 5C – as fewer loyal users value to upgrade to the latest device.
The overall increase in trade ins for all devices was 54.89 percent. The site says this does not mirror the reaction to last year’s big reveal of the iPhone 5, which created a 255.29 percent increase in Apple trade-in valuations. This could be a reflection of fans disappointment when the iPhone 4S was released back in 2011.
The impact of previous iPhone releases:
iPhone 5S / 5C
Sept 10th – Announcement day increase in trade-in valuations: 54.89 percent
Sept 12th – Announcement day increase in valuations: 255.29 percent
Sept 14th – Pre-Order day increase in valuations: 237.74 percent
Sept 21st – Launch day increase in valuations: 367.57 percent
Oct 4th – Announcement day increase in valuations: 159.01 percent
**Oct 7th – Pre-Order day increase in valuations: 138.06 percent
Oct 14th – Launch day increase in valuations: 173.20 percent
**Decrease due to people expecting the device top be the iPhone 5 not a iPhone 4S
June 7th – Announcement day increase in valuations: 141.29 percent
June 24th – Launch day increase in valuations: 159.57 percent
*data from comparemymobile.com
This increased Apple’s trade-in market share, which has taken a hit this year according to the site, due to its lack of releases in comparison to other manufacturers. In 24 hours the share of online trade-ins surged from 25.6 percent to 46.87 percent, it’s highest point being back in Feb 2013 at 50.6 percent of all trade-ins.
Top brands being traded-in:
Apple - 46.87%
Samsung - 18.30%
BlackBerry - 10.27%
Nokia - 9.82%
HTC - 7.59%
*Full data from comparemymobile.com attached
During the iPhone 5 release Apple iPhones as a whole lost 26.34 percent of their trade-in value over a 30 day period. Consumers wanting to sell their old iPhones just one month after the iPhone 5 announcement would have lost between 21-30 percent of the iPhones full value. Consumers can trade-in early and fix their quoted price for 7-14 days.
Example one month decrease in value of the iPhone 4S after the iPhone 5 release in September 2012:
Sept 12th – (Announcement day) Consumers could get up to 325 GBP for their iPhone 4S
Sept 14th – (Pre-Order day) Consumers stand to lose up to 20 GBP just two days after the announcement
Sept 21st – (Launch day) Consumers stand to lose up to 45 GBP just eleven days after the announcement
Oct 12th – Just one month after the announcement of the iPhone 5, consumers lost up to 99 GBP off their iPhone 4S trade in value
Depreciation of existing Apple models on the release of a new iPhone just shows the impact a new release can have on recycler exit routes, and how they adapt to cope with the demand.
CompareMyMobile say that comparing prices when recycling news phones is the best option for people planning on using the cash to put towards the latest device. By using a site like CompareMyMobile.com, consumers can earn up to 125 GBP extra when comparing prices from the 40+ recycling vendors in the UK.
IPhone 5 – Top Price: 295 GBP | Bottom Price: 170 GBP | Difference: 125 GBP
iPhone 4S - Top Price: 210 GBP | Bottom Price: 148 GBP | Difference: 62 GBP
iPhone 4 - Top Price: 133 GBP | Bottom Price: 75 GBP | Difference: 58 GBP
*Full data from comparemymobile.com attached
Co-founder of the site, Ashley Turner said: "Even though there is a severe lack of interest compared with the iPhone releases of previous years, there are important factors consumers need to take into account when selling phones. As of the 11 September 2013, there is a 992 GBP difference in prices offered by recyclers in the UK, it’s important to use a comparison site like CompareMyMobile.com for a consumer to see top value. When recycling, it’s also really important to take the reputation of the company into account too – which is why CompareMyMobile have a star rating system, based on consumers reviews."
Founded in 2009, CompareMyMobile.com is the UK's #1 source for independent mobile phone, tablet, sat nav, laptop, iPad, iPod and games console recycling price comparison. It delivers customers confidence in making the difficult decision of where to recycle their old phone safely and for the most money. CompareMyMobile.com is 100 percent impartial, comparing prices from more than 40 recycling stores.
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