Forecasts suggest NEW iOS 17 release will see iPhone X & iPhone 8 lose over 40% of their value…
– The iPhone 6S and 7 ranges lost 42.8% of their value, on average across all models, by the time iOS 16 rolled out in 2022, following the software announcement.
– In 2022, iPhone 6S Plus lost 11.7% of its value in just one week following the announcement of iOS 16.
– The iPhone 7 Plus lost 10.1% of its value in the week following the iOS 16 announcement.
We’ve just had the latest annual Apple WWDC for 2023 on June 5th to June 9th, at Apple Park and online. Here Apple announced a number of software and hardware updates that it will probably release in the fall, including iOS 17, Apple’s new operating system.
Neither the iPhone X or the iPhone 8 will receive the iOS 17 update, which means the phones won’t get security updates either. Owners and their data are more at risk of attack by people with malicious intent, like hackers, for example. These models will become obsolete once the new iOS version rolls out to the public.
This could spell disaster for iPhone X or 8 owners, who will see the value of their handset plummet considering the news. With Apple no longer supporting the devices, demand will drop significantly. This means that owners of the iPhone 8 or X will be left with a device that is worth a lot less than it was prior to the iOS 17 announcement, potentially up to 50% of its pre-announcement value.
Objective of the Report
Apple announced the IOS 17 launch on 6th June, where people will be able to beta test the new software up until its public rollout in the fall. It is likely that the new software will roll out around 12th September (if we follow recent years’ patterns).
- Will the iOS 17 software launch affect the resale value of the iPhone 8 & X?
- Should owners of these iPhones look to trade-in or sell their devices now?
- Is it too late to get a good value or will the devices continue to reduce in value?
SellCell will analyse data around the iOS 16 launch last year, to help forecast whether the device values of the iPhone 8 and X series will be affected in the run up to the iOS 17 launch.
SellCell has analysed data from over 40 buyback vendors, looking at how the 2022 iOS 16 announcement affected the price of iPhone 6S and 7 models.
- The iPhone 6S and 7 ranges depreciated by an average of 42.8% of their remaining value by the time Apple rolled out the iOS 16 update. The iPhone 8 and X are likely to follow suit.
- In 2022, the iPhone 6S Plus lost 11.7% of its value in just a week following Apple’s iOS 16 announcement.
- 2022 also saw the iPhone 7 Plus (256 GB) drop by 10.1% of its value, again in only a week after WWDC 2022 and the announcement of the new iOS.
- Will iOS 17 kill iPhone X or 8? Looking at previous trends, yes it will, as Apple will no longer support these devices.
- The best time to trade in your iPhone is as soon as possible. SellCell predicts that iPhone X and 8 values will plummet considering the latest iOS announcement.
Did iOS 16 Affect the Resale Prices of iPhone 6S & 7?
First, we will look at trends around the iOS 16 Beta release and the value of the iPhone 6S & 7. Then, we can predict how the iPhone X and 8 will fare now that the iOS 17 Beta is available. The iPhone 6S & 7 were both smartphones that Apple confirmed would not receive the iOS 16 update on rollout. Therefore, they would no longer receive security updates or support from Apple. This announcement led to the devices losing value at an accelerated rate.
iPhone 6S & 7 Trade-In Values Following iOS 16 Announcement
The following table shows the trade-in value of iPhone 6S and 7 models across each range. The trade in value has been calculated beginning on the day of the iOS 16 announcement and beta release on June 6th 2022, up to the public rollout of iOS 16 on September 12th 2022.
- The above data shows that the value of the iPhone 6S and 7 ranges depreciated. This happened from the moment Apple announced iOS 16 and released the beta version.
- The iPhone 6S & 7 saw brief value recovery two weeks following the announcement of iOS 16. However, the value continued to decline after this minor value recuperation.
- In 14 weeks the whole of the iPhone 6S and 7 series went from an average trade-in value of $76.00, down to $43.50, losing $32.50 on average, across the board.
- The iPhone 7 Plus (256 GB) went from $138 to $80 in the time between iOS 16 Beta and general release. The iPhone 7 (256 GB) dropped from a value of $82 to $50 in the same 14-week timeframe.
- The iPhone 6S Plus (128 GB) saw a reduction in value from $94 to $47, and the iPhone 6S (128 GB) dropped from an already low $38 to an even lower $24.
- In the 13-14 weeks following the launch of iOS 16 Beta, the iPhone 6S and 7 models lost, on average, $43.50 of their value.
iPhone 6S & 7 Depreciation Following iOS 16 Announcement
- In the same timeframe, depreciation reached an average of 42.8% value loss across the full range of iPhone 6S and 7 models.
- By July 18th—six weeks following the iOS 16 rollout and the Beta release—iPhone 6S and 7 models had all lost value, with on average 11.1% and up to 23.4% depreciation.
iPhone 6S & 7 Value Loss and Depreciation Compared
- Comparing value loss and depreciation, we can see that the iPhone 6S Plus 128 GB depreciated the most. It lost 50% of what value it still held. In cash terms, that is $47.00.
- The iPhone 7 Plus 256 GB lost the most value in a cash sense. From the time the iOS 16 Beta launched, to the full iOS 16 rollout, it lost $58.00 of its value, and depreciated by 42.0% during this time.
iOS 17 Beta Release: iPhone X & 8 Values
So, with last year’s trends in mind, will iOS 17 kill iPhone 8 and X? SellCell thinks so, although two-three more weeks are required in order to see whether there is a similar pattern to 2022.
iPhone owners should remain wary, however. We are likely to see the value of the iPhone X and 8 to plummet once we hit the two/three week mark following iOS 17 Beta release. Therefore, it is wise to think about locking in the best price for your iPhone X or 8 before prices hit the deck.
When Is the Best Time to Sell Your iPhone?
The best time to trade in is now. The value of an iPhone X or 8 is going to fall significantly the closer we get to iOS 17 launch. If iOS 17 drastically affected the resale prices of the iPhone 8 and X, as SellCell predicts, the value of models across those ranges will decrease significantly.
It isn’t as risky as it sounds to follow this practice. With trade-in comparison services like SellCell, you will get a price lock in for a set time period, with up to 28 days available in some cases. This is a cooling-off period and allows you to secure the current value of your handset before fully committing to the trade in. This gives you more time to think, while still benefiting from the best price you will get for your phone.
So, when is the best time to sell your iPhone? SellCell says bite the bullet and start your trade in process now.
CONCLUSION: What should an iPhone 8 & X owner do now?
As we can see from previous data, the announcement of a new iOS is a major concern for iPhone owners whose phone Apple will no longer support. The news that a phone is about to become obsolete means its value will plummet and, judging from last year’s figures, could see as much as 50% depreciation now that the iOS 17 Beta is in the hands of testers.
If you own an iPhone 8 or X, then you should freeze the best price for your iPhone 8 or X now. This is risk free and ensures you get the best value for your handset. SellCell’s trusted buyback vendors are ready to help you get maximum cash in the bank for trading in your handset. Even if you change your mind, you can cancel the transaction during the price freeze. However, as the iPhone 8 and X are likely to plummet in value, SellCell advises you should lock the best price in, today.
SellCell has shown the depreciation value as a cumulative percentage. This is also shown relative to the trade in value of the various iPhone 6S and 7 models as they were from June 6th, 2022, when Apple announced iOS 16, to September 12th, 2022, when Apple released iOS 16.