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Samsung handset values set to plummet

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Written by: Emma Lunn
19/01/2021
Older handsets could lose up to 21% of their value in the coming weeks as Samsung launches new models.

The Galaxy S21 5G, the Galaxy S21+ 5G, and the Galaxy S21 Ultra 5G will be released on 28 January and are available to pre-order now.

The upcoming release of the new handsets means now is the time to sell old phones – before their value drops.

Research from musicMagpie found that Samsung handsets can lose up to 12% of their value following the first month of a new model being released and up to a further 21% after three months.

So, customers are being encouraged to sell now if they want to secure the best deal.

musicMagpie says that if sold now, customers trading in a Samsung Galaxy S20 can expect to earn up to £310, while those with a Samsung Galaxy S20 Ultra could get up to £364, but these might only be worth £245 and £288 in three months’ time.

Liam Howley, chief marketing officer at musicMagpie, said: “With the imminent launch of the Samsung Galaxy S21 lots of people are planning to upgrade. From our data, it’s clear that those people should sell their old phone now rather than wait around to get the best price for it.

“We lock in a customer’s trade-in price for 14 days, giving them the opportunity to secure the best possible price while sorting out their new phone. Trading in your old phone is good for the environment too and encourages a circular economy whereby phones are recycled, refurbished and reused so it’s something anyone planning to upgrade should consider.”

What are the new Samsung handsets?

The Samsung Galaxy S21 5G comes with four cameras (one front, three rear) and a 6.2-inch screen. It starts at £769 for 128GB of storage, rising to £819 for 256GB.

The Samsung Galaxy S21 5G+  has the same features as the S21 5G, but with a bigger 6.7-inch screen. It’s £949 for the 128GB model or £999 for the 256GB model.

The Samsung Galaxy S21 Ultra 5G is bigger again, with a 6.8-inch screen. It also comes with five cameras (one front, four rear) and is compatible with Samsung’s ‘S Pen’. Handset prices starts from £1,149 for the 128GB model, rising to £1,329 for the 512GB model.

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