With the recent iPhone 5s launch, Apple managed to rake in billions by successfully selling over 9 million devices in just a couple of days. Although, it seems like now the value of the iPhones are slowly starting to go down. According to latest report from iPhone trade-in and monitoring service Flipsy.com, iPhone trade-in values have dropped by 30 percent during the last few weeks.
“Just two weeks ago, a used 16GB iPhone 4 could easily be sold to a Flipsy.com buyback vendor for $120. Now, the best offer is $95. A 16GB iPhone 5 would have gone for as much as $385 in early September 2013, but now it would net $325 at best, a difference of $60.” Flipsy.com reports.
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The report also suggests that this rapid price drop may have happened because of the “stiff competition” between companies like Apple, Wal-Mart, Best Buy, Amazon who offers excellent trade-in programs. As well as mobile carriers who hands out brand new phones at just $99 and $199 with contracts. Either way it’s clear that iPhone prices are getting lower by the day and is expected to continue in the coming weeks. So, if you’re planning to trade-in your old iPhone to a new one, this is the perfect time to do that.
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