When it’s time for the new iPhone release to come around, we are often left wondering how much of an impact it will have on the value of our current phones and whether it would be beneficial to sell them or trade them in before their value diminishes further. Alternatively, you could wait for potential trade-in deals or promotional offers associated with the launch of a new model. In this blog, we’ll take you through the impact of new releases on your old iPhone’s value and the benefits of trading it in.
iPhone New Releases
Apple typically releases new iPhone models once a year. Historically, these announcements have occurred in September, with the new devices becoming available for purchase shortly afterwards, usually within a couple of weeks. Alongside the main iPhone lineup, Apple may also introduce other products like new iPad models, Apple Watch variants, and updates to its Mac lineup at various points throughout the year. Additionally, they occasionally release special edition or mid-cycle updates to certain product lines, but these are less frequent than the annual iPhone refresh.
Do iPhones Retain Their Value?
iPhones generally retain their value better than many other smartphones on the market. On average, iPhones lose 49% of their value in the 12 months after they are released and 66% by the end of a standard 24-month contract period. There are several reasons for this including brand reputation; Apple has built a strong brand reputation for quality, reliability, and customer loyalty. This perception of quality contributes to the sustained value of iPhones when they are resold.
Another reason iPhones retain their value is that Apple typically provides software updates for older iPhone models for several years, which prolongs their usability and appeal to buyers. There is also a consistent demand for used iPhones in the resale market, driven by consumers looking for more affordable options or those who prefer Apple’s ecosystem but may not want to pay full price for a new device.
Apple and many third-party retailers offer trade-in programs that allow customers to exchange their old iPhones for credit toward the purchase of a new one. These programs incentivise customers to upgrade regularly, helping to maintain the overall value of iPhones. They are known for their premium build quality and sleek design, which contributes to their perceived value over time. While all iPhones experience some depreciation in value as newer models are released, they tend to retain their value better than many other smartphones, making them a more attractive option for resale or trade-in compared to some competitors.
The Impact of a New Release on Your Old iPhone
New releases typically lead to a decrease in the value of older models. For example, in 2023 the price of the iPhone 14 decreased by 45.4 percent due to the upcoming release of the iPhone 15.
However, factors like demand, condition, and market dynamics can affect the extent of this depreciation. New iPhones often come with updated features, better performance, and newer technology which can make older models seem outdated and less desirable, leading to a decrease in their resale value. The demand for older iPhones can fluctuate based on factors like the supply of newer models, consumer preferences, and market trends. If there are a limited number of newer models or if there’s a high demand for a particular older model, its value may remain relatively stable or even increase.
The condition of your old iPhone plays a significant role in determining its value. A well-maintained device with minimal wear and tear will generally fetch a higher price than one in poor condition. Local market conditions, trade-in offers from retailers, and online marketplaces can all influence the value of older iPhones. It’s essential to research the current market trends and pricing before selling or trading in your device.
Benefits of Trading in Your iPhone
There are many reasons for trading in your old iPhone. It could be that your phone is damaged, you might be eligible for an upgrade or perhaps it is simply that your contract has ended with an existing phone provider. Below you can find just some of the benefits of trading in your old phone.
Upgrade Affordability
Trading in your old iPhone can significantly reduce the cost of upgrading to a newer model. Many retailers and carriers offer trade-in discounts, cash or credits that can be applied toward the purchase of a new device, making the upgrade more affordable.
Convenience
Trading in your iPhone is often a convenient way to dispose of your old device. Instead of dealing with the hassle of selling it privately, you can simply trade it in at a store or sell it through an online program.
Simplified Process
Online platforms typically have straightforward processes, making it easy to exchange your old iPhone for credit or a discount on a new purchase which can save you time and effort.
Environmental Benefits
Trading in your old iPhone can be more environmentally friendly than simply discarding it. Many online platforms refurbish or recycle old devices, reducing electronic waste and minimising the environmental impact.
Data Security
Reputable trade-in programs ensure that your personal data is wiped from the device before it is resold or recycled, helping to protect your privacy and security.
Promotional Offers
Some trade-in programs offer promotional incentives, such as bonus credits or discounts, which can further sweeten the deal and maximise the value you receive for your old iPhone.
Ultimately, whether you are trading it in for a new model, to get a discount or cash, it is the best solution for retaining the value of your iPhone when new releases come out.
Trading in Your Old iPhone with Zapper
Trading in your old iPhone has never been easier. With reputable sellers such as Zapper, you can reliably send off your phone for cash in return. We will organise collection and postage and you can easily find out how much you might be able to get for your old device with our valuation tool. We even have an app to make things really easy! Trading in your iPhone can offer a convenient, cost-effective, and environmentally friendly way to upgrade to a new device while ensuring the secure disposal of your old one. Click here to get started.
