PriceSpy Study Shows Phone Prices Drop by 30% Three Months After Launch

  • A new report has revealed that the best time to buy a smartphone cheaply is three months after a new device is launched.

    The Study done by PriceSpy shows that you can make huge savings by being patient as prices of leading smartphones reduce by up to 40 percent within three months.

    The percentage drop in prices translates to upto Ksh28,600 in savings for a potential smartphone buyer

    Speaking on the discovery, Olof Karp, country manager of UK & Ireland at PriceSpy stated: “Our price history data tells us that prices on new handsets generally drop after about three months."

    [caption caption="a smartphone in use"][/caption]

    The findings are also relevant for the Kenyan market, affecting brands including the latest models of iPhone, Samsung and Huawei. 

    A good example is the Samsung's Galaxy S9 which launched at a pre-order price of Ksh99,999 on February 26 - a month later the price dropped to Sh84,999.

    With just one and half months since its launch, the phone has dropped to Ksh78,000 at several outlets and online retailers.

    PriceSpy (Pricespy Media Ltd) is a comprehensive price and product comparison service used by millions of consumers every month. 

    Launched in Sweden (as PrisJakt) in 2000, the website helps consumers find, discover, research and compare products. 

     

    It  is operated and owned by the Swedish company Prisjakt Sverige AB. Prisjakt is a part of the international media group Schibsted (SCH - listed at the Norwegian Oslo Stock Exchange).

    "At the moment we display 1,840,000 indexed prices, 98,000 products, 579,000 product ratings and 7,200 store ratings," reads part of the website.

    [caption caption="Screenshot of pricespy website"][/caption]