Buying Smartphone: Monetary Consideration

Buying Smartphone - Monetary Consideration - SeleMoir
Buying Smartphone - Monetary Consideration - SeleMoir
Source: Gleb Makarov, Unsplash

The smartphone industry is progressing fast, and having a smartphone for years is not as good an idea. There’s a cycle. Buy a phone, use it, take backup, sell the phone, buy a phone, restore backup, use it, take backup, sell it, and so on. You have something fresh, or relatively fresh, with you and it works. So which one should you buy? It depends on you.

What someone asks for my opinion on which one to buy from available choices, I ask them questions. The most frequent and important ones are what do you want and what’s your budget. So how much are you willing and able to spend? How much, per year?

There are lots of variables. We cannot consider all of them in one article. An important one is whether the phone gets damaged during the term of its use. Let’s assume, in this discussion, that it does not.

Let’s consider four price points – $100, $300, $700, $1200, and three periods of use – 6 months, 1 year, 2 year. The following table shows the 12 scenarios with purchase price, selling price, and expense per year. For simplicity, let’s assume that after selling a smartphone after 6 months, you’re buying a new one at the same price.

Net Yearly Expense Table on Buying Smartphone

(PP – Purchase Price; SP – Selling Price; NE – Net Expense; NYE – Net Yearly Expense)

Note that the rate of decrease in value is different for different models, and the table just shows rough general estimates. Some of factors that influence the expenses and selling price are – condition of the phone, its standing among competing models in the price range, brand value of the parent company, etc.

So before deciding on which one to buy, think about how long you plan to use it for, how much net yearly expense are you willing and able to incur, and choose the price range accordingly. Go through specifications and reviews, etc., and buy the best one for you in that price range.

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