SEOUL, Aug. 16 (Korea Bizwire) – Apple’s iPhones are more popular than its rival Samsung’s phones in the secondhand mobile market, according to a new study.
Findings from a study released by market researcher Strategy Analytics on Tuesday revealed that from last November to July this year, the prices of iPhone 7 handsets traded on the French used mobile website Love2Recycle did not drop as precipitously as those of its South Korean rival, the Galaxy S7.
Secondhand models of the 32GB iPhone 7, which was released last September, were found to be selling for 91 to 95 percent of the original price in March, an impressive figure given the six months that had passed since its release date.
In May, the average selling price of the 32GB iPhone 7 was still in the high 80s, with the price down just over 10 percent last month, 10 months after its release.
Over the same period, the price of the secondhand Galaxy S7 dropped much more rapidly.
Released last March, the South Korean electronics giant’s flagship model was selling for 69 to 71 percent of the original price last November.
Last month, marking the 16th month after its release, the secondhand market price of the phone was down to nearly half of its original price
According to the data gathered by Strategy Analytics, the iPhone 7 on average dropped to 91 percent in value 22 weeks after its release, while the Galaxy S7 dropped to 69 percent after the same period of time.
“When the same period of time has passed after a new model’s release, Apple’s iPhones are found to better stand the test of time than its rival Samsung’s Galaxy series. It’s safe to say secondhand iPhones have a value that is 10 to 15 percent higher,” Strategy Analytics concluded after analyzing data gathered from Love2Recycle.
When it came to trade-in deals however, the gap between the flagship smartphones from the two mobile giants was less significant.
The trade-in price of a used iPhone 7 after 22 weeks stood at 51 percent of the original price, while Samsung’s Galaxy S7 could be traded in for 36 percent of its original price.
After 37 weeks, the trade-in value of the iPhone 7 fell to 47 percent, while the Galaxy S7 dropped to 34 percent.
One industry source says the secondhand mobile prices are an indication of brand power.
“The prices for secondhand iPhones tend to stay much higher than other phones,” the source said.