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Price drop trend for older iPhone models revealed
The price of an iPhone 7, for instance, has decreased by up to 55 percent since it was first introduced to the market on Sept. 16, 2016.
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Among other iPhones, the iPhone X experienced the most significant price drop, according to iPrice data. (Bloomberg/Michael Short)
T
he launch of Apple's latest iPhone generally attracts huge attention, either from fans of the brand or those who are merely interested in whatever new breakthroughs offered by the company this time around.
Interestingly, another phenomenon that happens every time Apple introduces its latest products is people using the opportunity to purchase older iPhone models, since their price usually drops quite significantly.
Meta-search website iPrice Group released a study regarding this phenomenon on Wednesday, particularly focusing on the decreasing pattern of iPhone prices since they were officially released, as well as six months and 12 months afterward.
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Based on the study, customers can expect to purchase an iPhone for almost half its original price three years after it was launched. The price of an iPhone 7, for instance, has decreased by up to 55 percent since it was first introduced to the market on Sept. 16, 2016.
Among other iPhones, the iPhone X experienced the most significant price drop, according to iPrice data. In the first six months, the price fell up to 11 percent, and after 12 months, it dropped to 27 percent.
Based on this trend, the newly launched iPhone 11, which was priced at around US$699 — lower than the previous model iPhone XR that was available at $749 last October — would be much more affordable to buy six months later. And if you wait three years, the price could drop by 55 percent from its original release price. (kes)
