Now is the worst time to buy a smartphone (AAPL, GOOG, GOOGL)

tim cook

As summer winds down, it's time to think about getting the kids ready for school, squeezing in that final August getaway, and, of course, whether or not it's time to buy a new iPhone.

As I say every year around this time, don't buy an iPhone right now.

In fact, you should hold off from buying any high-end smartphone unless the one you're using is truly on its last legs. That's because we're on the cusp of a mega-release cycle for the best smartphones that'll launch this year.

On August 23, Samsung will unveil the Galaxy Note 8, its newest flagship phone. According to numerous leaks, the Note 8 will build on the excellent Galaxy S8, adding a dual-lens camera, larger screen, and beautiful design. (Don't worry. Samsung says it's fixed that whole exploding problem.)

Then comes the big one: Apple is expected to announce three new iPhones in September. Two of those models will be updates to the iPhone 7 and iPhone 7 Plus, the so-called iPhone 7s and 7s Plus. But the real star will be the 10th anniversary edition of the iPhone, which most people have been calling the iPhone 8. (Hopefully Apple gets more creative than that with the name.)

The iPhone 8 is said to have an OLED screen with minimal bezels, wireless charging, a special front camera that can unlock the phone using facial recognition, and a metal-and-glass body.

Oh, and it'll probably cost at least $1,000.

Finally, Google is expected to announce the sequel to its excellent Pixel smartphone in October. The Pixel was the first smartphone designed by Google, and it was a critical success. The Pixel 2 is expected to build on that success. According to the latest leaks, the phone will have a 6-inch screen, an improved camera, and one of the fastest phone processors available.

Even if you don't want to spend a fortune on a new phone, you should still wait. As soon as these new phones come out, older models like the iPhone 7, Galaxy S8, and Google Pixel will all be available at a discount. That means you're getting a top-of-the-line phone for a bargain. You'll be rewarded if you can hold off just a few more weeks.

SEE ALSO: The Samsung Galaxy S8 review

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