Key points
▶ The highest offer for a mint-condition 2TB iPhone Duo was $1,971, according to figures compiled by U.S. used-phone price comparison platform SellCell. That is 38.4% below its $3,199 retail price.
▶ High repair costs have been cited as a factor behind the decline in used prices. In the U.S., repairing the iPhone Duo’s inner display costs $999.
▶ Prices have also fallen in South Korea’s secondhand market. Unopened, unlocked 256GB models have recently been listed for 3.1 million to 3.2 million won, below the 3.29 million won retail price.
iPhones have long been regarded as smartphones that retain their resale value well. But just two weeks after the launch of Apple’s first foldable smartphone, the iPhone Duo, the highest buyback offer was as much as 38% below its retail price. Analysts say concerns about the durability of its foldable display and high repair costs are affecting prices in the secondhand market.
According to SellCell, the highest offer for a mint-condition 2TB iPhone Duo stood at $1,971 as of Nov. 10, or about 2.7 million won. That is $1,228, or 38.4%, below its $3,199 retail price. The phone had launched just over two weeks earlier, on Oct. 23.
The base 256GB model showed a similar trend. The highest offer for a mint-condition unit was $1,560, 22.0% below its $1,999 retail price. Offers for units in good condition were $1,315, down 34.2%. For poor-condition devices, offers fell to $1,107, a 44.6% drop. Phones with defects such as a cracked screen were valued at as little as $600.
SellCell’s figures are based on the highest buyback offers made by used-phone buyers. They may differ from actual person-to-person transaction prices or average market prices.
Growing costs for buyback companies
Concerns about the durability of the foldable screen and high repair costs have been cited as reasons for the decline in used prices.
On Oct. 27, Apple acknowledged that an issue affecting the inner display had occurred on some iPhone Duo devices and advised customers to have the affected phones replaced. It did not disclose the specific cause or whether the issue involved a hinge defect.
In a recent report, British mobile-market research firm Finsure examined how the cost of repairing the inner display affects buyback prices.
Repairing the iPhone Duo’s inner screen costs $999 in the United States. In South Korea, the repair costs 1.649 million won—about half the 3.29 million won retail price of the 256GB model.
Finsure said that even if a used-phone company bought a device for $1,300, discovering a defect in the inner screen could sharply reduce its profit after repair and logistics costs. The report said buyers may lower their offers or avoid purchasing the device altogether as repair costs rise.
SellCell’s figures show that major U.S. used-phone buyers Gazelle and ecoATM did not include the iPhone Duo among the devices they accept. The model was also excluded from Apple’s official trade-in program, the report found.
Prices fall in South Korea, with unopened phones listed below retail
Prices have also declined in South Korea’s secondhand market. The 256GB iPhone Duo retails for 3.29 million won. Immediately after launch, when supply was limited, listings on secondhand platforms reached 3.8 million to 4 million won—up to 710,000 won above retail.
The market has since shifted. Some sellers cut their asking prices by 400,000 won, from 3.82 million to 3.42 million won, in just four days. More recently, even unopened, unlocked devices have appeared for 3.1 million to 3.2 million won, about 100,000 to 200,000 won below retail.
Industry observers say the high repair costs typical of foldable phones and concerns about the durability of an early-generation product are affecting its resale value.