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Galaxy S10 Depreciates at Alarming Rate (46.69% in 30 days)

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The resale value of the new Galaxy S10 range lost more value in 1 month than the iPhone XS lost in 9 months!

eTradeWire -- Back in March 2019, a week before the release of the Galaxy S10, we released our 2018-2019 phone depreciation study. It received over 250 press features worldwide due to the overarching storyline: The Galaxy S9 was the fastest depreciating handset in 2018, losing value twice the rate of its flagship competitor, the iPhone X. With new phones costing up to $1,600, this provoked the question: Would these depreciation rates transfer to the Galaxy S10, making it a bad investment for consumers with resale intent for upgrades? We take a look at the Galaxy S10 and iPhone XS range using the same metrics, it has got worse for consumers…

HOT! Galaxy S10 lost up to -53.3% within 30 days of release
Released in March 2019, the Galaxy S10 range is one of the fastest depreciating handsets since 2017. The average depreciation between the 3 models and available storage sizes was -46.69% in 30 days of release, 5.03% more than the Galaxy S9's first month's devaluation in 2018 (-41.66%).

• S10 Depreciation figures ranged from -40.0% to -53.3% depending on model / capacity
• Galaxy S10+ 1TB - Had the highest monetary loss in month 1 (-$850 from $1,600)

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• Galaxy S10e 128GB - Had the highest depreciation rate in month 1 (-53.3%)

HOT! Galaxy S10's lost more value in 1 month than the iPhone XS lost in 9 months!
On a depreciation percentage basis, the Galaxy S10 range lost more in the first month as the iPhone XS/XR range has in 9 months! If you rely on trading in your old device when you upgrade it may be worth taking into account, now these smartphones cost up to $1,600.
• Galaxy S10 range lost 46.69% in the first month of release
• iPhone XS / XR range lost 42.40% in 9 months of release

Galaxy S10 predicted to lose 65.01% of its value by March 2020
If the Galaxy S10 follows the same depreciation trend as the S9, taking into the alarming first month of trade-in depreciation, they stand to lose an average of 65.01% by the time the next Galaxy S flagship is released in March 2020.

• Galaxy S10+ 1TB – Has the highest predicted monetary loss by March 2020 (-$1,062 from $1,600)
• Galaxy S10+ 1TB & 512GB - Have the highest predicted depreciation rate by March 2020 (-66.4%)

In month 1, the Galaxy S10e lost 11.1% more than the iPhone XR has in 7 months
Even the budget versions of the flagship phones followed a similar pattern, with the Galaxy S10e losing 11.1% more of its value in 30 days than the iPhone XR did in over half a year!

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• Galaxy S10e - Lost an average of -50.2% in 1 month across all storage capacities
• iPhone XR - Lost an average of -39.1% in 7 months across all storage capacities

iPhone XS is depreciating over 25% faster than the iPhone X
When reviewing the depreciation data, even though the iPhone XS range is outperforming the Galaxy S10 range in terms of resale value, it wasn't a cause for celebration for iPhone owners. In the 9 months from release, iPhone XS is losing value much faster than the iPhone X did (-13.85% more in fact)

• iPhone XS - Lost an average of -44.78% 9 months from release across all capacities
• iPhone X - Lost an average of -30.93% 9 months from release across all capacities

The iPhone X retained almost 20% more value than the Galaxy S9 (1 year of release)
In our last study, we had 9 months data to compare the Galaxy S9 pricing in 2018, now with the Galaxy S yearly release cycle is complete we can see how fast the iPhone X and Galaxy S9 depreciated in one year – 16.46% difference in the favor of iPhone X.

Galaxy S9 – Lost an average of -63.29% 1 year from release across all capacities
iPhone X – Lost an average of -46.83% 1 year from release across all capacities

To learn more, see the full report & download the resources here https://www.bankmycell.com/blog/galaxy-s-iphone-x-trade-in-price

Contact
Ash Turner
***@bankmycell.com


Source: BankMyCell
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