This story was updated with new trade-in price details for the iPhone 15 Pro range.
For deal hunters the launch of a new iPhone is a day to celebrate. Not because they’re excited to buy the iPhone 16, but because the iPhone 15 will dramatically drop in price.
This happens every year, but two 2024-specific factors make the iPhone 15 Pro and iPhone 15 Pro Max uniquely good value: AI and new pricing data. First up is Apple Intelligence, which kicks off an entirely new era of features, and ways to use your handset, with the iPhone 16.
Apple Intelligence is coming to the iPhone 15 Pro models, via iOS 18.1 in October, because they have hardware to support it. The base iPhone 15 and iPhone 15 Plus will be on the wrong side of the line in the sand, which will be reflected in their price on the secondary market. However, it may also play a role in how they are viewed by consumers as AI becomes the chief marketing point of most major smartphone companies.
We have seen Samsung lead with its Galaxy AI marketing campaign and move early to claim the title of being the AI smartphone. Google, too, has heavily promoted Gemini alongside the newly released Pixel 9. Both companies are also spreading specific AI tools to older handsets to keep people in their ecosystems.
It remains to be seen if Apple Intelligence, Galaxy AI or Google AI are the draws their respective companies believe them to be. Having spent this year testing AI toolkits on Samsung and Google handsets I will say that they quickly become part of your daily routine.
Gemini summarizing emails and making them searchable has quietly been a game changer for me, while Galaxy AI picture editing tools on the Fold 6 are well thought out. I suspect Apple’s revitalized version of Siri, which understands more complex requests, will be popular because it delivers on what Siri has always promised but never lived up to. This will be most people’s gateway into AI. Also, never discount the power of FOMO.
Then there’s the fact that the iPhone 15’s price on the secondary market has dropped more than most other iPhones. Recent data from Compare and Recycle shows that the iPhone 15 series lost 55.57% of its value in the first year, which is the most ever recorded for a one-year-old iPhone.
This is the first time in iPhone history that the value of an iPhone more than halved from its retail price in the first 12 months on the market. In comparison, the iPhone 14 series lost on average 47.8% of its value in the first year, while the iPhone 13 dropped by 41%.
It’s not clear why the iPhone 15 suffered such a dip in value, but it’s good news for people looking to pick up a cheap(ish) Apple handset. According to the data, there are more potential savings to be made too. The 512GB and 1TB storage options depreciated the most in that 12-month period, which is true across several iPhone models, so start looking there for the best deals.
The combination of the iPhone 15 Pro range’s incoming AI features and their dramatic drop in value makes them the best purchase option for deal hunters right now.
Update September 13th: Pre-orders for the iPhone 16 kickstart today Friday, September 13th and Apple is offering up to $1000 in trade-in credit when the iPhone 16 is bought with a “carrier promotion.” This means with a contract, via a carrier, instead of buying the phone unlocked.
If buyers do shop directly at Apple, the company is offering up to $650 in trade-in value for used handsets. That top price is obviously reserved for the iPhone 15 Pro Max. Up against Samsung, which is running a sale for its Galaxy S24 range with enhanced trade-in prices, Apple has edged out the Korean company on select handsets.
Samsung will pay $600 for the iPhone 15 Pro Max, whereas Apple is offering $650. Clearly a competitive move by a company that rarely engages in aggressive pricing tactics. There are also some interesting prices for older devices here, including $400 for the iPhone 13 Pro Max and $500 for the iPhone 14 Pro Max.
