Anyone owning a Galaxy S8 smartphone should consider selling their device right now.
With Samsung due to announce the launch of its next generation Galaxy S9 in just a couple of weeks, it seems the value of its S8 predecessor looks set to plummet.
In exclusive research for Express.co.uk, musicMagpie has revealed that prices for the Galaxy S8 could fall by as much as 25 per cent once the S9 is revealed on February 25.
According to the trade-in site Galaxy S8 owners can currently expect to get around £311 for their Galaxy S8 if it’s good condition.
The larger S8+ is valued slightly higher right now with a price of £335.
However, if their data is correct, these prices will fall to just £234 for the S8 – a drop of £77 – and £267 for the larger S8+ – a fall of over £85.
Liam Howley, Marketing director at musicMagpie, said: “Our study has shown that it really does pay to not hold on to Samsung devices for too long, as they depreciate at lot faster.
“With the S9 launch just around the corner, consumers looking to upgrade to the S9 can get more money for their old device now rather than after.”
Clearly, this appears to be a very good time to sell the S8 but it’s worth knowing that, even at this higher price, it will only make a small dent in what users may have to pay for the new S9.
Latest rumours suggest that this next generation Galaxy S9 could cost £100 more than the current S8 and S8+.
If that becomes a reality it may mean the S9 will cost over £780 with the S9+ going on sale for over £850.
The Galaxy S9 and S9+ will be unveiled at Mobile World Congress in Barcelona in just two weeks time with the devices expected to feature a swathe of improvements over its predecessor.
These include a much faster processor which will mean the S9 series is likely to be the most powerful smartphones to date.
This new chip will also make these latest devices much more efficient and capable of charging faster when the battery runs dry.
Other expected new features include an updated design, with improved fingerprint placement, and a superior camera with the S9+ even getting a dual-lens camera.
Express.co.uk will be in Barcelona and will bring you all the News live as it happens.
Source : EXPRESS