Samsung Galaxy S24 trade in warning (Image: SAMSUNG)
All eyes will be on tomorrow night with the US technology giant looking set to reveal its new range of smartphones. The grand unveiling of the will take place from 6pm GMT at one of the Korean firm’s Unpacked events in San Jose, California.
It will be a big 24 hours for fans of Galaxy devices, with the new models expected to be faster, smarter, and more feature-packed than ever. However, this impending launch could also be bad news for those with a Galaxy S24 tucked in their pockets.
If history repeats itself, those current flagships could take a massive hit to their trade-in values once the new phones arrive in stores. Head to sites such as MusicMagpie and you’ll currently get around £300 for a 128GB Galaxy S24 in good condition.
Hand over a Galaxy S24 Ultra and you’ll see £470 put back in your bank account. But those values could fall significantly once the S25 arrives.
Samsung Galaxy Unpacked (Image: SAMSUNG)
Speaking when the S24 launched last year, MusicMagpie said: “We’ve seen from previous research that older devices typically lose their value quickly after a new device launches, so to get the most money for your current device it’s worth locking your trade in price immediately if you are looking to upgrade.”
Although that’s bad news, the Galaxy S24 has performed well overall this year losing less money over the past 12 months than rival call makers.
Data from the team at Sellcell shows that the Galaxy S22 lost 66.7 percent of its value during its 2022 launch year, while the S23 lost 61.1% of its value over the first 12 months.
The S24 has done so much better in comparison. Six months post-launch, it was only seeing 50.4% depreciation; an improvement of 3.7% compared to the S23.
If these stats have got you worried, it’s worth noting that Samsung will almost certainly be offering enticing trade-in deals for those switching from older devices to its latest Galaxy S25.
Once the new call makers are revealed on stage tomorrow night, keep an eye out on the launch deals as you might find you can drop the price by handing over what you already own.
Express.co.uk will be bringing you all the news live from Unpacked so watch this space.