Waiting 10 weeks before buying the new Samsung Galaxy 23 could save shoppers almost a fifth of the price
Even bigger savings to be found on Samsung Galaxy Plus models
Samsung’s annual Galaxy smartphone launch has earned a significant following and buzz over recent years. However, any shoppers hoping to snap up the new phone when it launches this week are being advised to wait around 10 weeks to bag the best deal. This is according to PriceSpy, the impartial price and product service, which has analysed the price history of the last five Samsung Galaxy smartphones.
According to PriceSpy’s data:
After 10 weeks, the last five Samsung Galaxies had dropped in price by almost a fifth (-17%)
Samsung Galaxies lose over a quarter (-27%) of their value after six months
On the date that a new Samsung Galaxy smartphone launches, its closest predecessor will have dropped in price by, on average, almost a third (-32%)
Savings are even more exaggerated when it comes to the more premium model, the Samsung Galaxy Plus:
After 10 weeks, the last five Samsung Galaxy Plus smartphones had dropped in price by an average of 27%
Samsung Galaxy Plus smartphones drop in price by an average of almost a third (-32%) after six months
After a year, Samsung Galaxy Plus smartphones lose 40% of their value
Liisa Matinvesi-Bassett, UK country manager at PriceSpy, explains: “Our price history data clearly shows that Samsung Galaxy handsets typically drop in price less than three months after launching. 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.”
“Rather than getting tempted by seemingly-attractive pre-order offers, Samsung fans should set up price alerts on PriceSpy in order to be notified when the Galaxy 23 drops in price.”
According to PriceSpy, price drops like this aren’t as common across other smartphones.
Pricing of the relatively newer Google Pixel smartphone have not yet fallen into predictable patterns like with the Samsung Galaxy. Instead, newer models are retaining - if not, increasing - their value in the months after launching
Google Pixel 6 had increased in price by 19% after six months
Google Pixel 5 had retained its value after 12 months of launching
Google Pixel 4 had fallen in price by 31% after six months
Similarly, pricing of the Apple iPhone is unpredictable and post-launch price drops are not a guarantee
The latest iPhones - 13 and 14 - dropped in price by 10% within three months of launching
The iPhone 11 and iPhone 12 had only dropped in price by 1% and 3%, respectively, six months after launching
Liisa concludes: “Competition in the smartphone market is getting stronger by the year. Retailers and manufacturers are evidently having to get more dynamic in their pricing to attract buyers and stay relevant. 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. That’s where price alerts are especially useful.”
PriceSpy is a comprehensive price and product comparison service used by millions of consumers every month. It helps consumers find, discover, research and compare products. Since the business first started in 2002, its main objective has been to help consumers make better purchasing decisions. PriceSpy does this by collecting and sharing honest, transparent information about retail shops, products and prices. PriceSpy has well over 700 000 indexed products, sold by more than six thousand shops. PriceSpy is part of Schibsted and is located in Sweden, Norway, Denmark, Finland, New Zealand, France and the United Kingdom. The PriceSpy app is available to download for free, via the App Store and Google Play.