Do iPhone prices drop when a new one is released?

Apple is gearing up to deliver all-new iPhone 14 specs, but what about the previous generations' iPhone prices

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Apple is reportedly gearing up to introduce an all-new iPhone line come September 7th, which leads many to ponder previous iPhone prices following the speculative release of the iPhone 14.

The iPhone 13 still remains a rather powerful product, boasting several tech upgrades over the iPhone 12, like a super retina XDR display, an A15 Bionic chip, and camera upgrades galore.

But is it worth picking up the iPhone 13 on the cusp of the potential iPhone 14 announcement, or is it better to wait until after Apple’s ‘Far Out” event?

How much do iPhone prices drop after a new release?

Last year, Apple debuted the iPhone 13 at an asking price of $799, with the iPhone 13 mini catching for $699. The iPhone 13 Pro and iPhone 13 Pro Max fetched for $999 and $1,099, respectively. Prices also varied a bit depending on how much storage a buyer wanted, which could be either 128GB, 256GB, 512GB, or the newly-introduced 1TB memory capacity.

Around that same time, Apple’s previous generation smartphone, the iPhone 12, dipped in price upon the announcement of new products. The iPhone 12 price dropped by about $100 for both the base model and mini iteration. The current price for a standard iPhone 12 as of writing is $699 per Apple’s official site.

The price differential is not always the same, however, and may differ when the iPhone 14 is officially announced. However, according to BankMyCell, iPhone price points will “typically drop around 16.70% in the first year, 22.53% in the second, and 33.63% in the third year after the initial release.”

Is it worth buying an iPhone 13?

While it may seem like a no-brainer, scooping the iPhone 13 now with a new device on the near horizon proves to have several pros and cons. Currently, the iPhone 13 has remained at its initial $799 asking price, and with much of the current iPhone 14 specs remaining mere speculation, it’s best to wait for the official debut of the device before making any decision.

Several reports suggest that the iPhone 14 will leverage the same chip within the iPhone 13, that being the A15, which means you won’t exactly be buying into any new powerful internals with the next iteration. Add this to the fact that the iPhone 13 is future-proofed, allowing it a good five years of tech-savviness, and there’s really no reason not to pick up the older model.

The iPhone 13 also boasts one of the best smartphone cameras on the market and also utilizes a far more optimized battery than previous generations. Thus, scooping up an iPhone 13 might be the best deal on the market, but you will have to wait until Apple officially announces its new iPhone 14 line before prices drop.

Is there an iPhone 14 coming out?

Although it’s not clear if Apple will debut its new phones this week, the tech firm has done similar reveals in the past. Last year, Apple debuted the iPhone 13 on September 14th, which is quite close to its current set date of Sept. 7th for iPhone 14’s slated reveal.

Apple has not voiced any reveals itself in the run-up to the event, but several leaks and rumors do suggest that an iPhone 14 is on the docket. According to these reports, the mini models will be discontinued entirely, with Apple going full force on higher-end iterations.

These newer iPhone price points remain speculation, but Forbes projects a starting MSRP of $749, which would be lower than the current asking price for the standard iPhone 13. This could mean that the previous year’s model could see a hefty discount when the iPhone 14 finally gets announced.

Apple’s “Far Out” event is slated to kick off at 10 AM PDT / 1 PM EST. Discover all-new products and potentially even the iPhone 14 amidst the action.