Smartphone enthusiasts are brewing with excitement with the release of Apple’s newest device, the iPhone 11 on 20 September 2019. Although the iPhone 11 is sold at S$1,389 (the 256GB model), users who are looking to save up to S$114 might want to purchase the new iPhone one year later. The estimated reduction in price was found in our recent study utilising the historical prices of previous iPhone models such as iPhone 7, 8, X, and XS.
Analysis showed an overall decrease of 4.84% (S$82) after six months and 8.19% (S$131) price drop after one year. This was seen from the previous models such as the iPhone XS, which was sold at S$1,880 and experienced a drop-in its price tag up to S$1,819 one year later.
iPhone 7 experienced the biggest price drop by 14.53% (S$202) as compared with other models. The iPhone 7 was released with an S$1,390 price tag and saw depreciation 12 months later S$1,188 in September 2018.
Four vital facts on iPhone price trends:
- Historical data shows that you should wait for at least six to 12 months from the release date to see a reduction in the price tag. For instance, the price of iPhone X reduced by 9.68% (S$189) to S$1,761, one year after the phone was released.
- In Singapore, Apple’s iPhones experience an average of 8.19% drop in price after 12 months after it is launched.
- iPhone 7 experienced the biggest price drop as compared to other models. Data shows a reduction in its price tag up to 3.5% from its original price after six months it was launched. The price saw further reduction up to 14.53% from its initial price 12 months later.
- Based on historical data, the price of an iPhone 11 will most probably see a reduction from its original price tag, from S$1,389 to S$1,322 six months later & S$1,275 one year after its official release date.
Research Methodology:
All the iPhone models are flagship type with silver finish and 256GB storage capacity. The price list of iPhones at release period is taken from the Apple.com/sg that is recorded using the Wayback Machine website. The price list of iPhone after 6 months and 12 months of release is taken from iPrice.sg database, aggregated thousands of online shops which sold brand new iPhone at the lowest price.
About iPrice Group:
iPrice Group is a meta-search website operating in seven countries across Southeast Asia namely in; Malaysia, Singapore, Indonesia, Thailand, Philippines, Vietnam, and Hong Kong. Currently, iPrice compares and catalogues more than 500 million products and receives close to 20 million monthly visits across the region. iPrice currently operates three business lines: price comparison for electronics and health & beauty; product discovery for fashion and home & living; and coupons across all verticals.
