Apple’s iPhone Duo Faces Rapid Depreciation in Secondhand Market
Apple’s inaugural foray into the foldable smartphone space, the iPhone Duo, which once commanded a premium price due to initial launch shortages, is now experiencing a substantial drop in value on the secondhand market.
Just over two weeks following its release, buyback offers for various models in the United States have plummeted to 38% below their retail prices, while similar trends have emerged in Korea.
Amid rising anxieties regarding screen durability and exorbitant repair costs, speculation regarding the phone’s prospective resale value is intensifying.
U.S. buyback offers for used models up to 38% below retail; prices also below retail in Korea.
According to industry insights reported on the 10th, the apex buyback offer for the iPhone Duo 2TB model, as per data gathered by the U.S. smartphone price-comparison platform SellCell, was a mere $1,971.
This figure, applicable to a device in pristine condition, represents a staggering $1,228 (38.4%) reduction from its U.S. retail price of $3,199.
Further disparities are evident in the base 256GB model, which also showcased a dramatic divergence between retail pricing and buyback offers.
The highest offer for this variant, retailing at $1,999 in the U.S., stood at $1,560 for a well-maintained device, equating to a 22% decrease.
Additionally, a device bearing signs of prior usage fetched $1,315, reflecting a 34.2% markdown, while a unit in subpar condition was appraised at $1,107, or 44.6% below retail.
The depreciation became even more pronounced for devices exhibiting operational anomalies, such as a cracked screen. The top buyback offer for a compromised 256GB model was $600, merely 30% of its retail price.
It is crucial to note that these figures represent the pinnacle offers from used-device buyers in comparison to retail prices, and may not accurately reflect prevailing private sale transactions or the actual descent of buyback prices since the launch.
In Korea, the sentiment within the secondhand market has similarly shifted post-launch. The iPhone Duo’s 256GB model retails for 3.29 million won; however, in the immediate aftermath of its release, due to supply constraints, secondhand listings occasionally peaked between 3.8 million and 4 million won.
Nevertheless, one listing’s asking price saw a reduction of 400,000 won, dropping from 3.82 million to 3.42 million won within a mere four-day window.
Currently, listings for unopened, SIM-free devices are surfacing with prices ranging from 3.1 million to 3.2 million won.
Ritems, a buyback service for used phones, reported that as of the 5th, its direct buyback offers for unopened, SIM-free 256GB devices oscillated between 2,388,000 and 2,437,000 won—approximately 26% to 27% below the retail price.
Repair costs alone: 1.65 million won; durability concerns also weigh.
The screen durability apprehensions that arose shortly after the launch, coupled with the high costs associated with repairs, are pivotal factors that could influence the iPhone Duo’s resale value.
Since the iPhone Duo became available on the 23rd of last month, reports have surfaced regarding fractures forming at the center of the inner display in several devices, as well as malfunctions in parts of the screen.
Apple confirmed on the 27th that some devices could experience issues with the inner display and provided instructions for replacing affected units.
Nevertheless, the company refrained from disclosing specific defect rates in relation to total sales.
Repair costs are equally staggering. Apple has listed the out-of-warranty charge for mending the iPhone Duo’s inner display at $999 in the U.S., and 1,649,000 won in Korea, which is roughly half the retail price of the base model.
This price point remains elevated even when juxtaposed with other competing foldable smartphones. According to international technology outlet Android Authority, repairing the inner display of the Samsung Galaxy Z Fold 8 in the U.S. ranges from $419 to $579, significantly less than the iPhone Duo’s repair expenses.
Such high repair costs may impose additional burdens on used-phone buyback companies. If defects are discovered post-purchase, these firms might incur further expenses regarding repairs and resale.
The iPhone Duo, heralded as Apple’s first venture into the foldable segment, initially sparked robust demand, with preorder allocations swiftly being depleted in Korea.
Source link: En.fnnews.com.
