iPhone X sets a new record for resale value
If you are looking to buy a smartphone for yourself then look no further than Apple’s iPhone X. The said model not only set a new record for iPhone pricing but also, as per the reports, the iPhone X doing same in its resale value.
In a recent study, Liquidation specialist B-Stock reports that iPhone X has done the best job of holding its value. The model tops the chart by retaining 85% of its original value in a secondary market. According to 9to5Mac, B-Stock discovered that companies who bought the iPhone X in bulk to resell the handset are obtaining it for 75% of its retail value. Used models are witnessing a high demand sell for an average of 85% of the original price. And as per the B-Stock, this is a considerably higher percentage than previous iPhone models.
Apple released the iPhone X last year and it is said to be the costliest smartphone from the tech giant. iPhone X with 64GB costs around $999 and the model with more storage costs around $1149. Liquidation specialist B-Stock is in views that the iPhone X is worth at least $849.15 at its resale.
One of many reasons behind this is the iPhone X’s high demand in the domestic market. Apple does send a good amount of iPhone models overseas but the Cupertino-based tech company says that almost all the iPhone X models are sold within the USA. Merely 2% iPhone X models are sold abroad.
It is observed that usually, smartphones don’t hold their value well. Updated models, improved features and competitors’ appealing models drive the smartphone’s value down significantly. Apple’s iPhones also have the same lost value but they tend to hold up the value better than most of the smartphones of other brands.
Liquidation specialist B-Stock’s data suggests that iPhone X has set a record for holding its value in the market better than any other iPhone, according to 9to5Mac.
These findings will be a good news for those companies who deal in used and returned iPhones. This is also a good news for iPhone X owners who are planning to turn it in for a new iPhone this year.
Apple iPhone X’s other records
The iPhone X has already set a few records as well including the costliest iPhone from Apple and ‘the hottest iPhone’ during the second quarter from the tech giant.
Apple CEO Tim Cook said earlier ““Customers chose iPhone X more than any other iPhone each week in the March quarter, just as they did following its launch in the December quarter. We also grew revenue in all of our geographic segments, with over 20% growth in Greater China and Japan.”