My Two Cents: Should you hold off on your next phone upgrade? 🤔

The season is soon upon us with new versions of Android and iPhones. And with this new season, the question is, "Will I or Won't I."  A factor complicating that decision will be the pandemic.  The pandemic has caused a slow in the manufacturing stream.  The concern is will the manufacturer have all of the necessary components to meet consumer demand when the new phones drop.

What sparked my thinking is this article about how the Apple iPhone 12 model is retaining more value than its predecessor, the iPhone 11. Similarly, last year's car models are maintaining a greater value due to car "chip" production concerns.  Could a factor in this be that people will be hanging onto their old devices when the new ones come out? Does it have to do with lack of production? What about consumer concerns over the covid-economy?

Personally, I am someone who has the latest and greatest when it comes to software/hardware in my office.  I'm on Apple's iPhone Upgrade Program. So financially speaking, it will have little to no impact on my routine office expenses.  And I won't have to give up my phone, e.g., pay for the new buy selling my old one than waiting for the new one to arrive, until the new one is in my hands. I think timing is going to be critical this year. You may have to invest in the new phone while retaining the old one until the new one arrives. Consider if your provider or phone maker has a lease program. Or perhaps just skip over this new version until the economy and production get better.

Either way, right now, make sure you are getting the best dollar for your recent "old" devices.

MTC