IF YOU'RE hoping to make some cash off of your old Samsung mobile, now might be the time to do it.
The Korean tech titan's older smartphone models are set to plummet in value following the release of its latest handset this week, research shows.
Out Friday, the Samsung Galaxy S21 could drive down the value of your current mobile by up to 12 per cent within a month, according to experts.
Worse still, that wallet-busting loss could rise a further 21 per cent after just three months of the new model hitting the market.
The data comes from trade-in site MusicMagpie, which has analysed used handset sales around previous Samsung phone launches.
The biggest losses will be for anyone with an expensive phone.
For instance, customers trading in a Samsung Galaxy S20 – which cost £899 at launch last year – can expect to earn up to £310 for a trade-in today.
That figure is expected to sink to just £245 a month after the release of the S21.
MusicMagpie's Liam Howley urged anyone thinking of trading in their old Samsung phone to do so sooner, rather than later.
“With the imminent launch of the Samsung Galaxy S21 lots of people are planning to upgrade," he told The Express.
"From our data, it’s clear that those people should sell their old phone now rather than wait around to get the best price for it."
Of course, while it's guaranteed that your phone will lose value after this week's launch, no one really knows how big the drop will be.
Samsung mobiles tend to hold their value pretty well, particularly compared to rival Android phones.
But a new Galaxy flagship will spark a wave of interest in trade-ins, flooding the market – and driving your phone's worth down.
If you do opt to trade it your old handset and bag yourself one of Samsung's new mobiles, there's plenty to look forward to.
The Samsung Galaxy S21 series comprises three phones with 5G connectivity and curious rear camera bumps that merge with the chassis.
They were announced during the Korean tech titan's virtual Galaxy Unpacked event on Thursday.
The cheapest of the trio is the £761 Samsung Galaxy S21, which boasts a 6.2-inch AMOLED display housed within a metal frame.
Samsung has opted for a retro, flat-edged design as opposed to the pebble-like silhouettes of old – much like Apple did for the iPhone 12.
The S21's rear camera is an upgrade on the snapper of last year's Galaxy S20, with 12MP primary, 12MP wide-angle and 64MP telephoto lenses.
Samsung said it has improved the stability of its digital camera zoom – which can reach 30x magnification – and has boosted the speed and performance of the mobile, too.
The Galaxy S21+, which starts at £949, features many of the same specs but comes in slightly larger, with a 6.7-inch display.
Those willing to splash a bit of extra cash for all the bells and whistles can opt for the Galaxy S21 Ultra.
It's got a mammoth 6.8-inch screen and adds an extra telephoto lens that gives the powerhouse the capacity to zoom at up to 100x magnification.
The big news, however, is that the Ultra supports Samsung's S-Pen stylus.
You can use the gizmo to navigate your home screen, type out texts or scrawl reminders in your favourite notes app.
The S-Pen has typically been reserved for Samsung's larger "Note" smartphones released each August, but the company is heavily rumoured to be binning the flagging series this year.
The Ultra's extra features come at a heavy price. The mobiles starts at a whopping £1,149.
The S21 series opened for pre-orders earlier this month and will hit shelves around the world on September 29.
Samsung – a brief history
Here’s what you need to know…
- Samsung is a major South Korean company made up of many businesses that operate globally
- It's known locally as a "chaebol", which means "business conglomerate"
- It was founded by Lee Byung-chul in 1938 as a trading company
- But over several decades, it branched out into food processing, insurance, textiles and retail
- It wasn't until the late 1960s when Samsung entered the electronics industry – for which it's best known in the west today
- It also launched businesses in construction and shipbuilding in the 1970s
- Today, Samsung's most important sources of income are its smartphones and computer chips
- The firm accounts for around a fifth of South Korea's total exports, and roughly 17% of the country's GDP
- More than 320,000 staff are employed by Samsung globally
- And in 2017, Samsung turned over the equivalent of £174billion today in revenue
In other news, Samsung’s unveiled a robot butler this week that lays your table, pours you a beer and cleans the dishes.
Here's our review of the iPhone 12, Apple's first 5G mobile.
And, here's how to find out if you can access 5G in your area.
What do you think of Samsung's new mobiles? Let us know in the comments!
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