Apple officially delayed the launch of its latest iPhone 12 in September to the dismay of an anticipating market, finally releasing it on October 13th. Some of us want to buy the latest phones as soon as they come out, but analysis by PriceRunner of 150 phones and their prices shows that you can save on average up to 46% on a new iPhone and 49% on an Android phone if you buy them at the right time.
PriceRunner analysed prices on the 50 most popular iPhones and the 100 most popular Android phones in the UK in 2019. We found that February and March are the best times to buy an iPhone, as a majority of available models reach their lowest price then. The best time to buy an Android phone is in June, July and August.
So, when should you steer clear of buying a new phone? Christine Gouldthorp, consumer expert at PriceRunner, said:
“We found that the most expensive time of year to buy an iPhone turned out to be September, as prices on old iPhones increase the most when new models are announced, but also because new models from last year reached their maximum price at the same time.
As with iPhones, September proved to be the most expensive month overall for Android phones. However, our data showed steadily falling prices on Android phones month after month. After being on the market for on average three months, the price of a Samsung phone usually drops by 30%. So, if you can wait before you buy the newest phone on the market, you probably should.”
If you want to bag a new phone when it is generally at a very low price without spending too much time on research, the Black Friday sale is a good time to shop. At this time of year you can find more great discounts and offers on phones than other times of the year, just remember to compare before you buy.
How much can you save by comparing prices?
iPhones are quite expensive, but you could still risk paying more than needed if you forget to compare prices before you buy. Our analysis of the top 50 most popular iPhones revealed that there was on average a 98% in difference between the highest and lowest price, for the same phone. On average, consumers can save up to 46% by buying the cheapest price on offer at that time compared to highest available price.
This is especially relevant for prices on the latest iPhones which we found to be particularly volatile. Our data shows that after about twelve months on the market, the price of an iPhone drops on average 25%.
Buying a new phone is a jungle. We discovered an average price difference of 117% between the most expensive and cheapest price offered on the same Android phone. We believe this is because of the many different prices from retailers on identical models, also on different colours and in general because of a lack of competition between retailers. This makes it very hard for consumers to compare, who can save on average 49% if they buy an Android phone with the current lowest price compared to the current highest price.
PriceRunner is the UK's independent price comparison service with over 1,600,000 products from more than 5,000 retailers. PriceRunner was founded in 1999 and is primarily active in Sweden, Denmark and the UK. We are a team of 150 ambitious PriceRunners who work to develop the most loved service for comparison shopping. PriceRunner is completely independent; we are not owned by or dependent on any manufacturer, retailer or other organisation that might have an interest in providing biased information. PriceRunner's mission is to help consumers find better products and better prices. Every month we help hundreds of thousands of consumers to find better, cheaper products and save money by comparing prices for a particular product.