Owners of the current Galaxy S9 should consider selling their smartphones right now if they want to get the best trade-in price.
Samsung will reveal its next-generation Galaxy S10 later this week and that means prices for the S9 looks set to take a dramatic tumble.
In fact, the latest research from trade-in site musicMagpie has revealed that Android devices – in particular, Samsung handsets – could lose up to 35 per cent of their value once the S10 is available.
Consumers who purchased the Samsung Galaxy S9 following its 2018 launch can expect to earn around £300 if they trade-in now, and those who are looking to trade-in the S9+ could earn £340 but this value is set to decrease once the S10 is on the market.
musicMagpie’s research also found that S9 and the S9+ lost the same amount of value over a 10-month period, decreasing by 64 per cent – this was more than any other previous Samsung model over the same time period.
Interestingly, if the S10 follows the same depreciation pattern as its predecessors, such as the S6, S7, S8 and S9 models, it is set to lose at least 50 per cent of its value in the first month after launch.
Liam Howley, Chief Marketing Officer at musicMagpie, said: “With the S10 launch just around the corner, consumers looking to upgrade to the S10 can get more money for their old device now rather than after.
“The Samsung Galaxy S9 and S9+ lost the same amount of value in the same time and we’ve never really seen that in any other device range – usually, the newer version of the handset takes longer to lose value.
“While cars typically lose approximately 20% when driven off the lot, technology items can lose up to an average of 65% once they are taken out of the box, depending on the brand.
“It’s well documented in our bi-annual depreciation studies that iPhones hold their value better than Samsung devices, and it’ll be interesting to see how much more the Samsung Galaxy S9 will drop in value once the S10 is out.”
As a reminder, the Galaxy S10 is set to launch on February 20 with rumours suggesting three devices will be unveiled by Samsung.
These could include a cheaper S10e, standard S10 and larger S10 Plus.
New features arriving on these phones look set to include a fully edge-to-edge screen, faster processor and triple rear camera system.
Although not confirmed, we also expect to see Samsung embed the fingerprint scanner under the screen and include a technology called reverse wireless charging which will allow the S10 to refill other phones simply by touching them.
We’ll find out full specs and price next week and Express.co.uk will be at the Unpacked event to bring you all the news live as it happens.