iPhone, After 2 Years of Release, Secondhand Price Drops to One Third
Used iPhone Price Analysis on Junggonara
70% After 1 Year, Drops to 30% After 2 Years
[Asia Economy Reporter Han Jinju] It has been revealed that the price of used iPhones drops by up to 30% after two years from their release.
On the 15th, Junggonara analyzed the status of used iPhone transactions and stated that one year after release, the price maintains about 70% of the original retail price, but after two years, it falls to around 30%.
As of the third quarter, the average market price for major iPhone models in used transactions is ▲iPhone 8 at 226,000 KRW ▲iPhone X at 303,000 KRW ▲iPhone XR at 320,000 KRW ▲iPhone XS at 358,000 KRW ▲iPhone 11 at 456,000 KRW ▲iPhone 11 Pro Max at 584,000 KRW.
For the iPhone 11, released last year, the price is maintained at about half of the retail price (990,000 KRW). The iPhone XS, which was released two years ago, dropped from 1,050,000 KRW to the 350,000 KRW range, and the iPhone XR fell from 990,000 KRW to 320,000 KRW, about one-third of the original price.
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In particular, used phone prices tend to decline once news of new product releases begins to emerge. The Data Management Team at Junggonara explained, "The highest value of used phones is right before the flagship smartphone release of major manufacturers," adding, "iPhones maintain relatively higher used prices compared to competitors due to steady demand, but if you want to sell your smartphone at the highest possible price, it is important to consider the timing of new smartphone releases and your personal selling timing."
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