Vietnamese electronics retailers are buying back the Galaxy Z Fold, which sold for VND50 million (US$2.092) when it was launched in 2019, at an 88% reduction from the original price.
Ever since Samsung’s new Galaxy S23 went on sale in Vietnam on Feb. 17, retailers have launched trade-in programs, encouraging users to buy the new model.
Galaxy Z Fold phones are being bought back at prices of VND0.43-6.1 million per unit depending on their condition.
The Galaxy S10+, another high-end Samsung model which went on sale in 2019 with a price tag of VND28.9 million, is being bought back for VND2.9 million.
According to Nguyen Lac Huy, manager of electronics chain CellphoneS, prices of most Android smartphones fall faster than those of iPhone models. After six months of use, the price of an Android phone plunges by 40-50%.
The main reason is that manufacturers often offer discounts on Android phones after launch, while the cost of repairing them is high.