Prices of leading smartphones reduce by up to 40 per cent within three months of launch in global markets including Kenya, a new research shows indicating major savings from delayed purchases of new devices.
A study by PriceSpy, shows that those willing to wait for the hype to die down, make savings by waiting three months before making the purchase.
The price then, the study shows, would have dropped by an average of 35 per cent, leading to savings of more than Sh28,600 (£200).
“Our price history data tells us that prices on new handsets generally drop after about three months,” Olof Karp, country manager of UK & Ireland at PriceSpy told the Business Daily in a statement.
The trend is also evident in the Kenyan market, affecting brands including the iPhone, Samsung and Huawei.
The latest device by Samsung Electronics, the Galaxy S9 was, for instance, launched at a pre-order price of Sh99,999 on February 26 and went on sale a month later at Sh84,999.
The phone is now retailing at between Sh94,999 and Sh78,000 at several outlets and online shops, a significant price drop in just one-and-a-half months.
Samsung Electronics East Africa said it does not discount the prices of smartphones itself, but blamed competition among its vendors for the decline in price tags.
“Samsung Electronics does not set or dictate the prices for our partners/vendors … we, however, experience price variations across different retailers occasioned by competition among them,” Charles Kimari, the head of mobile division at the company said.