Samsung’s Galaxy S23 phone range
(Picture: Samsung)It’s no secret that consumer tech drops in value from the moment it’s released, but those eager to get their hands on the imminent Samsung Galaxy S23 should be able to make big savings if they hold off just 10 weeks, according to comparison site PriceSpy.
Analysing historic data for Samsung Galaxy S handsets, the site found that, after 10 weeks, the last five Samsung Galaxy S smartphones had dropped in price by an average of 17 per cent. After six months, the original RRP had fallen by more than a quarter (27 per cent).
Assuming 2023 doesn’t buck the trend, this means that, rather than buying a Samsung Galaxy S23 for £849 on its launch day of Friday (February 17), buyers could potentially pay around £704 in May or £577 in August.
For the larger ‘Plus’ model, the percentages are even bigger. After 10 weeks, the last five handsets going all the way back to the Galaxy S9 Plus had dropped by an average of 27 per cent, hitting 32 per cent after six months.
That means buyers could potentially spend around £766 in May or £713 in August, instead of £1,049 on launch day.
“Whilst individual retailers may offer flash discounts or promotions earlier than this, the 10-week mark is when we see the first real significant price drop - after which point, prices don’t tend to rise significantly again,” says Liisa Matinvesi-Bassett, PriceSpy’s UK specialist.
PriceSpy offers price alerts, letting buyers see the discounts as and when they happen, and unsurprisingly, this is Matinvesi-Bassett’s advice for those looking to pay as little as possible for the new handset.
“For tech fans, this means there’s a strong chance of snapping up a new model of their favourite smartphone at a reasonable price - but it may be when they least expect it,” she continued. “That’s where price alerts are especially useful.”
Interestingly, while Apple’s iPhone is less vulnerable to sharp price drops as conventional wisdom suggests, its latest handsets appear less effective at holding at the RRP than their predecessors.
While the iPhone 11 and 12 dropped one per cent and three per cent six months after launch, the iPhone 13 and 14 both fell an average of 10 per cent within three months of going on sale, PriceSpy says.
While this analysis covers new SIM-free handsets, past research has shown a similar sharp deterioration for Samsung’s smartphones on the trade-in market, too.
One thing to note: these are SIM-free prices, and PriceSpy doesn’t hold any data on smartphones bought via contract. If you’re purchasing that way, be sure to figure out the cost over the full term (usually your monthly cost x 24, plus any upfront fee) to see how much you’re paying above SIM-free prices.
