The prices of Apple’s used iPhone 4S is dropping fast as owners are selling off their used handsets in anticipation of the new model.
A used 16GB model is being put up on sale with a drop in price by almost Dh1,000.
It is widely expected that a much thinner iPhone with a larger display and a more powerful A5 processor is what apple plans to release either this September or early October.
For those who have always wanted to own an iPhone, this could be an ideal opportunity as prices are expected to fall further during the coming weeks.
While a new iPhone 4S is priced at Dh2,599 for 16GB handset and
Dh2,999 for a 32GB model in the online Apple store, some retail stores have already started to drop prices. A brand new iPhone 4S is selling on Dubizzle for Dh2,100 to Dh2,300.
A four to five month old 16GB model is going for as less as Dh1600, a drop of almost Dh1,000.
Meanwhile according to reports, the sales of iPhone 4S has declining as prospective buyers are holding onto the release of iPhone5.
While apple sold over 35 Million iPhone 4S units last quarter, the number is expected to drop by almost 5 to 10 million units during this quarter.
According to Andy Hargreaves of Pacific Crest Securities, sales could drop to 25million units, a drop of almost 28.57 per cent. Another estimate by Morgan Stanley projects a much meager drop to 31 Million units.
Apple CEO has already said that the drop in sales is a result of hype about the iPhone5.
Apple's revenue and profits for the third quarter of 2012 has dropped compared to the previous quarter. While the second quarter posted a revenue of $39.2bn and profits of $11.6bn, this quarter has only earned it a revenue of $35billion and a profit of $8.8billion. However the numbers look much brighter when compared to the same period last year.
During the same period in 2011 Apple had posted figures of gross revenue at $28.6bn and profits of $7.3bn.