Why Cash For Phones Is About To Drop Dramatically In 2020?

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Source: https://www.thescreengeeks.com/

Every year, billions of mobile phones are sold all over the world. According to one report, there were more than 1.5 billion new mobile phones sold just in 2017. If we take into account the number of used mobile phones, the figures are much higher. On average a mobile phone loses more than 3% of its value every month after the release, but this year it is expected to be much different because the new mobile phone network spectrum is about to take over the older 4G network all over the world.

Samsung, Huawei are the two main vendors who seem to be capturing the initial 5G mobile phones market because both these vendors invested billions of dollars in research and development of newer devices equipped with a 5G modem years ago. That is one of the reasons why both these vendors are the first ones to come forward with their first 5G mobile phones. The launch of newer models has helped Samsung to capture a huge chunk of market share but at the same time, it has negatively affected the selling price of older models. The cash for phones offered on all older models which are equipped with 4G modems is about to drop dramatically in the next coming months because in most of the advanced countries the networks have already started updating their networks and are heavily marketing their new 5G spectrum.

Apple seems to be the biggest loser as of now because Apple yet has to come up with its first 5G mobile phone and the newer iPhone 11 has failed to impress its users.  iPhone users were expecting iPhone 11 to be a 5G mobile phone rather than a 4G in an era where every other vendor is advertising its 5G products. Because there is no way a 4G mobile phone can benefit from the 5G network as a mobile phone needs to have a 5G modem to gain the benefits from a 5G network. Due to the buzz created by 5G, most of the mobile phones launched in 2019 have lost most of their worth other than iPhone 11, iPhone 11 Max and iPhone 11 pro max because they were launched just a few months ago. But the launch of the iPhone 11 has severely impacted the selling price of older models such as iPhone 8. This is one of the reasons why the iPhone 8 can easily be purchased for under £300 whereas almost a year ago the same mobile phone was not available for anything less than £500 in used condition.

Right now, the market is changing because of the 5G but it has not impacted as severely as it was expected and one of the main reasons is that most of the mobile phone networks despite spending billions on the network, the upgrade is unable to impress its users by the 10 times better speed expected from a  5G network. Only the bigger cities in the UK such as London, Birmingham, Manchester, and Glasgow are benefiting from the 5G networks. The launch of the iPhone 11 also impacted the sale price of iPhone X, iPhone XR and iPhone XS but the major blow is about to come with the release of the iPhone 12 later in 2020 as it’s expected to be a 5G mobile phone.

From this, it can be concluded that you should sell your old mobile phone if you have upgraded and you don’t want to lose a lot on the value of your older one. It’s speculated that the new iPhone which might be launched in September 2020 will not only be Apple’s first 5G mobile phone but will be a state of the art, completely wireless mobile phone capable of wireless charging and complete wireless connectivity. A sale and purchase decision shall be made keeping in mind the recent developments in the mobile phone arena.