Phones lose value over time for a variety of reasons. Technology is constantly evolving, which means that new models with better features are released regularly. As a result, older models became obsolete and less desirable, causing their value to decline. Also, wear and tear is a natural process that happens when you use your phone every day. Scratches, dents, and other damage can significantly reduce the value of the phone, although it varies from device to device.

The availability of newer and better technology at lower prices also affects the value of older models. Finally, market demand also plays a crucial role in determining the value of a phone. As new models come out, the demand for older models decreases, which causes their value to decrease. Speaking of newer models, the Samsung Galaxy S23 was introduced a few months ago, but soon the device’s value dropped by 43.3 percent, which is almost 1.5 times that of the iPhone 14.

The latest figures show that just two months after the launch of the Samsung Galaxy S23, the phone has lost 43.3% of its ‘new’ value. While this may seem like a significant loss of value, it’s important to note that it’s a marked improvement over its predecessor, the S22, which lost three times its value over the iPhone 13 over the same time period. The iPhone 14 series, on the other hand, showed the best performance with an average of 31.0% depreciation in two months.

Unfortunately, Google’s Pixel 7 is the worst performer of the three ranges, losing 45.9% of its value just two months after its launch. The tech giant tried to counter this by offering $150 discounts on the Pixel 7 and Pixel 7 Pro, but that means the value of the smartphone suffers even more for those who paid an MSRP at launch.

Looking at phones in good condition, the results are similar to those in “like new” condition. The iPhone 14 series regained some of its lost value two months later, with an average loss of 35.0%, while the value of the Galaxy S23 fell 47.7%. Despite some improvements from Samsung, the iPhone still holds its value better than any other phone on the market.