If you own a OnePlus 5T and are hoping to trade-up to the upcoming OnePlus 6, you should really sell your old handset before May 16th.
A report revealed OnePlus smartphones will typically lose 80 per cent of their trade-in value in the six months following the launch of a new handset from OnePlus.
The trade-in company tracked data around the launch of the OnePlus 5T, which revealed OnePlus 5 dropped in value by 80 per cent after six months, and after nearly a 10 month period – it’s only held onto 10 per cent of its value.
As such, musicMagpie expects the OnePlus 5T to depreciate by 80 per cent when the OnePlus 6 is launched in May, should it follow the same pattern as previous OnePlus launches.
Jon Miller, Managing Director of Electronics at musicMagpie, told, “The highly anticipated OnePlus 6 will be launched in May, however from our data, we’ve seen that OnePlus models tend to depreciate faster than any other phone brand just one month after launch.
“With that in mind, it really shows the dominance of Apple and Samsung in the mobile phone market as the initial drop in value is quite dramatic in comparison to the bigger players.
“From our data, we can predict that the OnePlus 5T will lose approximately 80 per cent in value when the OnePlus 6 is available if it follows the pattern of other launches.
“We’ll be keeping a close eye on the market to see how the new OnePlus 6 fares in comparison to its predecessors as well as its competitors.”
According to the data sourced by musicMagpie, the initial drop in value of OnePlus smartphones after six months is faster than any other phone brand.
However, after this period, OnePlus handsets tend to hold on to their remaining value pretty well.
According to musicMagpie data, this is quite rare to see with Apple and Samsung devices, which tend to depreciate by at least 1-2 per cent every month, while the remaining value in the OnePlus handsets stays stable.
The hotly-anticipated event sold-out in hours when tickets went on-sale earlier this week. The next-generation OnePlus smartphone is widely-tipped to feature an all-glass design, that boasts water resistance and wireless charging – a first for the brand.
OnePlus has already confirmed the handset will be powered by the flagship Qualcomm SnapDragon 845 and feature a controversial notch in the edge-to-edge display. You can also expect a dual-camera system on the back for Portrait Mode and optical zoom, as well as the company’s trademark Dash fast-charging.
There’s no word on pricing although one leak has suggested OnePlus may release a more premium model of its OnePlus 6. In fact, with a rumoured price of $749, it could be the most expensive phone OnePlus has ever launched.