The trade-in value of the latest generations of Huawei smartphones has come crashing down in the wake of U.S. sanctions. Consumers are turning away from the brand, and Huawei and China need to act quickly before the damage to the country's flagship consumer brand becomes unmanageable.
reportedTrade-in prices for the P20 Pro are now as low as £50," adding that,"Samsung's 2018 flagship is still worth around £235 which is considerably more than the newer phone from Huawei."
And this is a global issue, even extending to Huawei's home turf in Asia."The market for used Huawei smartphones has taken a major hit,"from Singapore."While a majority of mobile phone shops here said they are still buying used Huawei handsets, they are offering steeply lower prices for them. Some shops have stopped buying used Huawei products altogether. Customers, too, are staying away, with sales of used Huawei smartphones dropping sharply.
There are of course multiple trade-in sites with varied prices being offered, albeit all those I reviewed in preparing this article were showing sharply reduced offers or no offers at all. There are also peer-to-peer sales sites which will likely look to hold up pricing for longer. Much has happened in the last week, and we will get a better view of likely pricing impacts over the next few weeks as the initial news settles.
A Huawei spokesperson told me a week ago that the company"will continue to provide security updates and after sales services to all existing Huawei and Honor smartphone and tablet products covering those have been sold or still in stock globally.
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