Assurant Reveals Average Trade-In Value for Smartphones Has Increased for the Fifth Consecutive Quarter
15 Agosto 2023 - 7:30AM
Business Wire
Average trade-in value for smartphones reached
$135
Assurant (NYSE:AIZ), a leading global business services company
that supports, protects and connects major consumer purchases,
today revealed that the average trade-in value of smartphones
reached $135 during Q2 of this year. iPhones reached their highest
recorded value of $215 during the same timeframe. Assurant’s data
highlights the continued rise in value of pre-owned devices—in Q1
of this year, it reported that the average trade-in value of
iPhones surpassed the $200-mark for the first time since Q3
2021.
Assurant’s latest quarterly Mobile Trade-in and Upgrade Industry
Trends report provides insights into the mobile device trade-in and
upgrade trends in North America. The report outlines the top
smartphones turned in during the quarter, the average age of
devices at trade-in, as well as data on online trade-ins and
wearable trade-ins.
Highlights from the Q2 2023 report include:
- $872 million was returned to U.S. consumers through trade-in
and upgrade programs in Q2 2023. This remains flat when compared to
Q1 2023 ($865 million).
- The top five traded devices were the iPhone 11, iPhone 12,
iPhone XR, iPhone 12 Pro Max, iPhone 11 Pro Max; 5G capable devices
make up 34% of the list as compared to 29% last quarter.
- For the first time the Galaxy S21 was the most traded Samsung
device unseating the Galaxy S9 which held that position throughout
2022.
- The overall average trade-in value of all smartphones was $135,
up from $126 in Q1 2023.
- The average age of devices at trade-in continues to rise; the
average age of all devices increased by 6% to 3.56 years; the
average age of iPhones increased by 4% to 3.55 years while Android
increased by 10% to 3.58 years.
- Online trade-ins accounted for 16% of total trade-ins for the
quarter. Online trade-ins also saw a 15% year-on-year increase from
Q2 2022.
- Also surpassing the $200-mark for trade-ins is the Apple Watch
Ultra which had an average trade-in value of $208 for the
quarter.
“With the economic challenges affecting the mobile device
market, new smartphone shipments have declined resulting in a
decrease of pre-owned smartphone inventory. Simultaneously, many
consumers are now taking more interest in purchasing refurbished
smartphones—whether that’s to make devices more affordable, or as a
greener alternative to buying new,” said Biju Nair, EVP &
President, Global Connected Living & International at
Assurant. “As demand for these devices rises, carriers,
retailers, cable operators, and OEMs will be looking for ways to
increase their used device inventories—and as such, we are seeing
this reflected in the trade-in value. In fact, this is the fifth
consecutive quarter where the trade-in values have risen. The
secondary market continues to thrive, and trade-ins and upgrades
will continue to be critical as these industry players overcome the
macroeconomic hurdles they face, as a way to encourage sales,
maintain customer loyalty, drive revenue and extend the life of
pre-owned devices.”
Assurant’s Mobile Trade-in and Upgrade Industry Trends report
combines data from its Device IQ analytics platform and industry
market data. The latest report is available to download here.
About Assurant Assurant, Inc. (NYSE: AIZ) is a leading
global business services company that supports, protects and
connects major consumer purchases. A Fortune 500 company with a
presence in 21 countries, Assurant supports the advancement of the
connected world by partnering with the world’s leading brands to
develop innovative solutions and to deliver an enhanced customer
experience through mobile device solutions, extended service
contracts, vehicle protection services, renters insurance,
lender-placed insurance products and other products.
Learn more at assurant.com or on X (formerly Twitter)
@Assurant.
All marks are the property of their respective owners. All marks
used are for identification purposes only. Use of these marks does
not imply endorsement.
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version on businesswire.com: https://www.businesswire.com/news/home/20230815729680/en/
Press contact Andy Mus Director, Corporate Communications
andy.mus@assurant.com
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