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Want a Note 5? Sell your old Samsung phone now, or you could lose out

If you’re looking to buy a new Samsung handset, you might want to flog your old device as soon as possible.

Samsung is set to announce two new smartphones today, and its old devices are sure to see a slump in value as a result.

That’s according to CompareMyMobile (CMM), which compiled data on the depreciation of Samsung devices after last year’s Galaxy Note 4 launch in order to highlight the risk to fans of the brand.

“Based on last year’s data, consumers could see Samsung phone trade-in values plummet by over 30 per cent within two months of the reveal,” explains CMM.

It adds: “Typical depreciation within a two-month period is usually no higher than 10 per cent,” highlighting the risk to Samsung fans.

According to the research, the Galaxy S5 dropped nearly 40 per cent in value within eight weeks of the Note 4’s launch.

Similarly, the value of the Galaxy Note 3 fell by a staggering 33.15 per cent.

Other handsets that saw their worth slide include the Galaxy Mega 5.8 (-20.83 per cent), the Galaxy S4 Mini (-15.99 per cent), and the Galaxy Note (-15.56 per cent).

As such, if you’re looking to upgrade to a new Samsung device, you might want to get rid of your old one sooner rather than later.

Interestingly, it’s not just Samsung owners that are willing to pawn their handsets for a new device from the company.

According to the report, the iPhone 5 was the most traded-in smartphone by people upgrading to the Galaxy Note 3.

However, more than 70 per cent of consumers upgrading to the Galaxy Note 4 were “loyal Samsung users”, so the firm clearly has a strong following.

This gels with a recent report that suggested Android fans are the most loyal of all mobile operating system users.

SEE ALSO: Samsung Galaxy Note 5 vs Note 4

Samsung is widely rumoured to be launching two new smartphones at today’s Samsung Unpacked event, the Galaxy Note 5 and the S6 Edge+.

The company is yet to officially confirm these devices, so stay tuned to TrustedReviews for the latest from today’s event.

Will you be upgrading to a new Samsung smartphone this year? Tell us why, or why not, in the comments section.

Check out our smartphone group test video below:

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