Google Pixel 8 & 8 Pro lost over 20% value in just 3 months in the US

In the fast-paced world of smartphones, the value retention of flagship devices plays a crucial role in consumers’ decision-making processes. One recent case study that raises eyebrows is the Google Pixel 8 and Pixel 8 Pro, both of which have seen a substantial drop in value just three months post-launch. This mini-analysis focuses on the US market, comparing the Pixel 8 series to its competitors, specifically the iPhone 15 and Galaxy S23.

Unlike rivals Apple and Samsung, whose flagships are still holding onto their value like a prized possession, Google’s latest offerings are plummeting at an alarming rate. Why is this happening, and should you always wait a few months before pulling the trigger on a new Pixel? According to our findings, it seems so.

The Pixel 8, initially priced at $699, has seen a noteworthy price drop in the official Google US Store, now listed at $549. This translates to a price difference of $150, amounting to a significant 21.46% depreciation in just three months. Similarly, the Pixel 8 Pro, with a launch price of $999, has dropped to $799, indicating a $200 difference and a 20% depreciation in the same timeframe. This translates to a monthly depreciation rate of a staggering 7.15% for the Pixel 8 and 6.67% for the Pixel 8 Pro.

To provide context, it is essential to compare the Pixel 8 series with its competitors. The iPhone 15, launched at $799, has maintained its original price in the US market since September 2023, demonstrating stability in value retention. The Galaxy S23, priced at $799.99 out of the box, also remains unchanged despite the imminent release of the Galaxy S24.

The stark contrast in value retention becomes apparent when examining the strategies of Google, Apple, and Samsung. While regular Google Store deals — some limited to time and other conditions — may explain the Pixel 8’s price drop, both Apple and Samsung have refrained from discounting their flagship models. This raises questions about the Pixel 8’s competitive standing in terms of sustained value. Furthermore, the stark contrast with Apple and Samsung could hint at deeper issues. It could be that:

• Brand perception: Google, despite its software prowess, still lacks the cachet of Apple or Samsung in the hardware realm. Consumers might see Pixel phones as less “desirable,” leading to faster depreciation.
• Market saturation: The Android phone market is fiercely competitive, with numerous manufacturers vying for attention. This puts pressure on Pixel phones to offer deeper discounts to stand out.
• Internal strategy: Perhaps Google prioritizes immediate sales volume over long-term value retention. This could explain the aggressive discounting early on.

For buyers, this rapid depreciation presents an opportunity. You can snag a Pixel 8 at a significant discount compared to launch, essentially getting a flagship phone at a mid-range price point. However, it also raises concerns about the phone’s future value retention, making it a riskier purchase if resale or trade-in is your long-term plan. This is where the the iPhone 15 and Galaxy S23 have proven more resilient in retaining their original values, something Google hopes the 7-year support and iFixit deal will help address.

But in the competitive landscape of premium smartphones, it’s clear the Google Pixel 8 and Pixel 8 Pro are facing challenges in value retention post-launch, particularly in the US market. The contrast with stalwarts like the iPhone 15 and Galaxy S23 emphasizes the importance of long-term value retention. For prospective buyers, the data suggests that waiting a few months after launch may lead to substantial savings, as demonstrated by the Pixel 8 and 8 Pro’s price drop of up to 21.46% in just three months.

While you’ll likely see further price drops in the coming months, taking the plunge on a Pixel 8 now might be tempting, especially if you prioritize new features, software experience, and getting the latest and greatest Google phone. You can check out the latest deals in this article.