Apple finally released details of its newest iPhone along with a new iPhone 12 Mini and iPhone 12 Pro, plus an iPhone Pro Max at their October event earlier this week.

The new iPhone 12 will be released on October 23.

You can pre-order iPhone 12 and iPhone Pro from Friday, October 16 and the Mini and Pro Max slightly later - pre-orders on November 6 and released on November 13.

The new iPhone 12 will be released on October 23.

And while thousands of tech fans will want to buy the latest phones as soon as they come out, analysis by PriceRunner shows that curbing your spending enthusiasm could save you a few quid.

PriceRunner looked at 150 phones and their launch prices and found that you can save on average up to 46 per cent on a new iPhone and 49 per cent on an Android if you buy them at the right time.

They analysed prices on the 50 most popular iPhones and the 100 most popular Android phones in the UK in 2019 and discovered that February and March are the best times to buy an iPhone, as a majority of available models reach their lowest price then.

The best time to buy an Android phone is in June, July and August.

Christine Gouldthorp, consumer expert at PriceRunner, said: “We found that the most expensive time of year to buy an iPhone turned out to be September, as prices on old iPhones increase the most when new models are announced, but also because new models from last year reached their maximum price at the same time.

“As with iPhones, September proved to be the most expensive month overall for Android phones. However, our data showed steadily falling prices on Android phones month after month.”

PriceRunner also found that after being on the market for an average of three months, the price of a Samsung phone usually drops by 30 per cent.

Which means if you can wait a wee while to buy the newest phone on the market, you probably should.

If you want to bag a new phone when it is generally at a very low price without spending too much time on research, the Black Friday sale is a good time to shop.

At this time of year, you can find more great discounts and offers on phones than other times of the year, just remember to compare before you buy. 

To find out more about how consumers can become smarter shoppers, read PriceRunner’s safe shopping advice online here.