Your Android smartphone could be worthless after a few years
If you're someone who sells their smartphone when it's time to upgrade to a new one, whether you buy an iPhone or Android can make a huge difference.
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Buy some Android smartphones, and they could be worthless in a few years.
Cell phone trade-in site BankMyCell has been tracking data on the resale value of 500 smartphones, and it makes some pretty grim reading, especially Android owners.
For example:
- Over a three year period, flagship Android devices drop twice as fast as iPhones.
- Samsung's Galaxy S21/S20 resale value range dropped double the rate of the comparable iPhone 12/11 range.
- Next-gen foldable phones like the Galaxy Z Fold 3 lost up to half their value just 5 months from launch.
- Google Pixel and OnePlus trade-in values drop by almost half the retail price in 30 days.
- Budget Android devices lose an average of 41.82% in 1 year, worthless after 3-4 years.
Depreciation: iPhone vs Android
It's not all fun and games for iPhone users either. For example, the iPhone SE 2020 lost 38.32% of its value in the first eight months of 2020, and went on to lose a further 48.74% in in 2021, making it the fastest depreciating iPhone to date.
Comparing iPhone to Android, it's pretty clear which platform is the best in terms of retaining value:
- 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.