An Apple iPhone 15 Pro Max smartphone at the company’s Grand Central store in New York, US, on … [+] Wednesday, Dec. 20, 2023. The International Trade Commission ruled earlier this year that the Apple Watch violates two Masimo patents related to blood-oxygen sensing and imposed an import ban on the Ultra 2 and Series 9 models that goes into effect Dec. 25. Photographer: Jeenah Moon/Bloomberg
Apple and Samsung are heading in opposite directions when it comes to trade-in prices right now.
Following a rare promotion that launched in May, where the company offered a boost in its trade-in valuations for those buying iPhones, Apple has now cut its trade-in prices down for select devices.
Spotted by MacRumors, the reductions are relatively small, with cuts averaging between $10 and $20. For example, the iPhone 14 Pro Max can be traded-in for up to $620 (previously $630); the iPhone 14 Pro can now be traded-in for up to $520 (down from $530), while the iPhone 14 Plus now nets $400, compared to $420 previously.
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Elsewhere, the iPhone 11 is now worth $170 (down from $200 in May), the iPhone 12 Pro Max is worth $350 (down from $370) and Samsung’s Galaxy S22 Ultra, which is the latest Samsung phone Apple will accept, is valued at $235 (down from $270).
This is in stark contrast to Samsung, which is currently running one of its most generous trade-in deals right now. The Korean company has just launched its new range of foldable phones, new watches and the Galaxy Ring wearable. To entice people to pre-order, it has upped trade-in prices until July 23rd and the difference in valuations between the two companies is huge.
When buying the Galaxy Z Fold 6, Samsung values the iPhone 14 Pro Max at $900—$280 more than Apple. The iPhone 11 at $300 versus Apple’s $170 valuation, and the Galaxy S22 Ultra at $650 compared to Apple’s $235 trade-in price—a huge $415 difference. The gap in trade-in prices is repeated across almost all valuations between the two companies.
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But there’s an important caveat here: the higher prices that Samsung is offering only apply when buying the Galaxy Z Fold 6, or Z Flip 6. That offer only lasts until July 23rd. If shoppers opt for the Galaxy S24 Ultra instead, Apple competes with the Korean company’s prices in a few places.
Samsung values the iPhone 14 Pro Max, for example, at $500 compared to Apple’s $620 price tag. Both companies are prepared to part with $400 for the iPhone 14 Plus, whereas Samsung tops Apple’s valuation for the iPhone 12 Pro Max by offering $400 compared to Apple’s $350. Both companies are offering the same prices for the iPhone 12 and 13.
