After causing much disappointment to its critics in November last year, the resale value of iPhone X, also popular as the absurdly priced luxury smartphone, has once again managed to amaze the market experts, even in the secondary markets.
Even after over 8 months post its launch, the resale value of iPhone X, the most premium phone from the tech giant Apple, is trading at 85% of its original price, as per B-Stock, a liquidation specialist. Even bulk buyers of second-hand smartphones, who frequently buy second-hand smartphones from retailers, are willing to pay 75% of the retail price of iPhone X, even at the time when the successor of iPhone X is around the corner. Retailers buy smartphones from customers under an exchange or upgrade schemes at a very generous price in a bid to sell new devices.
Market experts, in general, expect an iPhone to sell at around 60-70% of its retail price, post six months after its launch. It is worth mentioning that the previous segments in the iPhone series such as iPhone 6, 6s, 7 and 8 managed to clock the resales price almost 65% of their retail price in the secondary market, after six months of their launch.
Criticisms Torpedo-ing Post The Launch
Having a base price of almost $1000, the Apple iPhone X became the most expensive commercial smartphone ever sold. However, with its launch started flowing the criticisms and concerns over its sales. Expectedly, iPhone received a lukewarm response in the market as the buyers preferred older models over the exaggeratively priced iPhone X.
Come Q1 2018 and iPhone X rose up against all the criticisms and become the most selling iPhone. It is estimated that iPhone X alone contributed to over 27% of the revenues earned by Apple in its fiscal Q2 2018. It also accounted for 42.23% of total revenue contributed by iPhones in fiscal Q2 2018.
Surviving the Secondary Markets As Good!
One explanation behind the iPhone X keeping up a high esteem could be because of the gossipy titbits that Apple won’t make newer adaptations of this model. Likewise, numerous shoppers may keep their iPhone X in light of the fact that there won’t be another cycle of that model for exchange.
High and expensive smartphones are meant to deliver a higher incentive to consumers, in general; and customers tend to clutch these smartphones for longer a period (which means less supply for the secondary market). The other reason behind the surprisingly high resale value of iPhone X could be that it brandishes a fresh new shape since the iPhone 6, introduced in 2014, which is alluring enough to result in high demand.
All the above figures ridicule all the previous claims of Apple being unsuccessful with the much-anticipated tenth-anniversary iPhone, be it primary or the secondary mobile markets. It is reported that iPhone X was the most revenue collecting smartphone on the planet in Q4 2017 and Q1 2018 out of a row. According to the Q2 2018 report, Apple sold 52.2 million units of iPhone X in the only five months since it went on sales in November last year.
It is expected that iPhone X would continue to lead the Apple’s sales, by revenue, in fiscal Q3 2018 as well. Hence, if you belong to the class of people who own an iPhone X but are also awestruck by the new Find X by Oppo or Vivo’s new Nex, the secondary smartphone market will not let you down, at least for now.