Galaxy S23 has already lost a whopping 43.3% of its value
One way to gauge the worth of a smartphone is by looking at its resale value. It is believed that on average, smartphone users keep their phones for 2.5 years but if you like to switch phones every year, an iPhone may be your best bet.
Apple's iPhones tend to retain their value better than top Android phones, and this remains true this year, according to a new survey. SellCell, an online used smartphone marketplace and price comparison website, discovered that the Samsung Galaxy S23 range and the Google Pixel 7 duo have lost significantly more value than the iPhone 14 since their release.
Pixel 7 vs Galaxy S23 vs iPhone 14 depreciation rates
The Galaxy S23 range, with a starting price of $799.99, was released on February 17th. Within two months, the series has depreciated by 43.3 percent, implying that a used Galaxy S23 in "like new" condition is only worth 56.7 percent of its original purchase price. In contrast, the iPhone 14 family had lost only 31 percent of its value after two months.
Based on that, it looks like the Galaxy S23 has depreciated 1.4 times faster than the iPhone 14. The silver lining is that the Galaxy S23 is not depreciating as fast as the Galaxy S22. SellCell says that the Galaxy S22 had depreciated three times as much as the iPhone 13 two months after its release.
iPhone 14 not as good at retaining value as iPhone 13 was
On the other hand, the iPhone 14 is faring worse than the iPhone 13. After six months, the iPhone 14 is worth 5.7 percent less than the iPhone 13 was worth during a comparable period.
The Pixel 7 had lost 45.9 percent of its value after two months of release, making it the poorest performer of the three. On top of that, the phones are frequently on sale, and currently, Google has discounted them by $150, so the loss of value is greater for those who bought the phones at launch.
Out of all the phones, the 1TB Galaxy S23 Ultra in "good" condition lost the most value in two months. The $1,619.99 phone has lost 55.6 percent of its value and is only worth $719 now. The iPhone 14 Pro Max 128GB has proven to be most stable investment, losing only 13.6 percent of its MSRP in two months.
Some smartphone models, including the iPhone 14 Pro Max 128GB, Galaxy S23 Plus 256GB, and Pixel 7 Pro 128GB have also regained some of the lost value.
At the end of the day, the depreciation rate doesn't reflect a phone's quality. A high resale rate merely indicates that you can expect to get a good return on your investment when you decide to sell your phone. Otherwise, if you plan on holding on to your phone for a few years, the important thing to remember is that both the Galaxy S23 and Pixel 7 will be supported for five years.
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