2021-2022 Phone Depreciation Report: BankMyCell Shows Which Phones Burn Consumers Cash

Through 2021-2022, cell phone trade-in site BankMyCell tracked 500 device resale values from multiple vendors hourly. Our report shows which smartphones are most likely to bleed resale value by brand, model, and operating system - essential knowledge for consumers looking to leverage the value of their old device in an upgrade.

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BankMyCell

Feb 16, 2022, 08:25 ET

NEW YORK, Feb. 16, 2022 /PRNewswire-PRWeb/ -- In 0-36 Months, Flagship Android Devices Drop Twice As Fast As iPhones.

  • In one year, the current average depreciation of a new iPhone's trade-in value is 13.83%, compared with Android's -32.06%.
  • Year 1-4 from release, the average yearly loss of a new iPhone is -14.80% of its original trade-in value, whereas Android devices lost -32.18%.
  • After 4 years, iPhones will lose -47.49% of their initial buyback value, whereas flagship Android phones will lose -78.94% on average.

iPhone vs. Samsung Galaxy S Buyback Prices (Early S22 Warning). As the yearly iPhone and Galaxy S ranges often get analyzed head to head for sales and functionally, we decided to compare their buyback value data side by side as well.

  • On average, the iPhone 12 range lost -13.83% of its buyback price through 2021, compared with the Samsung Galaxy S21 range at -23.72%.
  • On average, the iPhone 11 range lost -10.72% of its buyback price through 2021, compared with the Samsung Galaxy S20 range at –35.61%.
  • The Samsung Galaxy S21 Ultra was the only Galaxy S device with good price retention, only dropping -16.35% compared with the iPhone 12 Pro Max at -15.40%.

Next-Gen Foldable Phones: A Consumer & Buyback Store Nightmare. Most trade-in services refurbish and resell smartphones through their own or partnered phone recycle facilities. With Samsung charging $479 to repair the inner screen of a Galaxy Fold3, compared with $199 for a Galaxy S21 – this makes it challenging for stores to offer consumers reasonable buyback prices.

  • Galaxy Z Fold3 5G was released in August 2021 for $1,799, 5 months later its lost -$1,039 or -57.75% of its value
  • Galaxy Z Fold2 5G was in the top 10 lists for overall depreciation and monetary value, with a 12-month loss of -$322.33, which is -42.34% of its price in Jan 2021
  • Galaxy Z Flip3 launched in August 2021 for $999 and -53.60% less by December. The 2020 Galaxy Z Flip 5G also lost -37.50% of its value in 2021.
  • Motorola RAZR 5G got released in September 2020 for $1,399; by December 2021, it had depreciated -84.34% in the trade-in market.

2022's iPhone SE 5G: Early March Debut Consumer Warning. Last year, we reported that the budget iPhone SE 2020 was Apple's black sheep regarding price retention, losing its value fast 8 months from release.

  • The iPhone SE 2020 lost an average of -38.32% of its resale price eight months in 2020.
  • By the end of 2021, it had lost -48.74% of its original release value, making it the fastest depreciating iPhone to date.
  • As the typical consumer upgrade cycle is currently around 24.7 months (according to CNBC), consumers should know half the value will drop by then.

Budget Android Devices Lose An Average Of -41.82% In 12 Months. We took all Android phones released at $399 or less and mapped out their yearly depreciation. The report showed that consumers would lose almost 60% of the value of the handset in the average 24-month upgrade cycle.

  • Android devices priced at $399 or less at launch lose an average of -41.82% of their resale value in the first year, with -58.84% by year two, -71.57% year three, and -87.83% by year four.
  • Samsung Galaxy A11 lost -94.13% in 2 years, from retailing at $179 in May 2019 to a trade-in value of $10.50 in Dec 2021.
  • Google Pixel 3a lost -78.44% in 3 years, from retailing at $399 in May 2019 to a trade-in value of $86 in Dec 2021.
  • Sony Xperia 10 lost -88.57% in 3 years, from retailing at $350 in Feb 2019 to a trade-in value of $40 in Dec 2021.

Big Day One Trade-in Value Drops For Google Pixel & OnePlus Smartphones. Once they become used, the premium range of OnePlus and Google Pixel smartphones have significant drops in trade-in market value. The initial day one quotes are almost half the retail values. However, through the first year, they hold that price well.

  • Pixel 6 Range (2021): The starting trade-in value was -49.25% less than its retail value; however, it only lost -4.79% from Oct-Dec 2021.
  • Pixel 5 Range (2020): Similar to the pattern on the Pixel 6, the trade-in value loss for the entire of 2021 was only -3.17% – However, after release, it was worth -46.63% less than its retail price.
  • OnePlus 9/9 Pro (2021): The starting trade-in value was –55.56% less than its retail value; however, it only lost an average of -4.28% from Mar-Dec 2021.
  • OnePlus 8/8T (2020): The OnePlus 8T range lost the most value in 2021, with an average of -46.01% compared with the OnePlus 8 range losing -37.39%.

To learn more, see the full report & download the resources here: https://www.bankmycell.com/blog/cell-phone-depreciation-report-2021-2022/

Media Contact

Ash Turner, BankMyCell, 1 9176753062, [email protected]

SOURCE BankMyCell