Almost a billion dollars returned to U.S. customers in third quarter through mobile device trade-ins
07 Noviembre 2023 - 7:30AM
Business Wire
More than half of the top traded models are 5G
devices
Assurant (NYSE:AIZ), a leading global business services company
that supports, protects and connects major consumer purchases,
today revealed that $999 million was returned to U.S. consumers
through mobile trade-in programs in the third quarter alone. The
iPhone 11 still dominates as the top traded device – as it has for
the last six quarters – but for the first time more than 50 percent
of the top five traded models were 5G capable devices.
The latest Assurant Mobile Trade-in and Upgrade Industry Trends
report shows the continued growth of mobile device trade-in
programs, fuelling the secondary device market for those seeking a
more affordable or eco-conscious alternative.
Key industry highlights from the Q3 2023 report include:
- The average age of devices turned in for trade-in and upgrade
programs remains at just over 3.5 years.
- The top five traded devices were the iPhone 11, iPhone 12,
iPhone 12 Pro Max, iPhone XR, and iPhone 12 Pro.
- The iPhone 11 remained the top device traded for the sixth
consecutive quarter, making up 32 percent of the top five traded
devices. The top traded Samsung model was the Galaxy S21.
- For the first time, more than 50 percent of the top five traded
devices were 5G capable.
- The overall value of device trade-ins fell slightly, but this
is typical around the introduction of new device generations and
in-keeping with 2022 Q3 trends.
- U.S. consumers received $999 million back through trade-in
programs, a three percent increase from Q3 2022’s $970
million.
“We usually see the value of trade-ins dip slightly at this time
of year, coinciding with the annual release of the new generation
of Apple iPhones and Google Pixels. This year is no different, but
the astonishing amount of money returned to U.S. consumers through
trade-in programs – just shy of $1 billion – demonstrates continued
momentum behind the global secondary device market,” said Biju
Nair, EVP & President, Global Connected Living &
International at Assurant. “These renewed devices offer a more
affordable and sustainable alternative to buying new. We are seeing
5G devices seriously enter the secondary device market, which will
lower the point of entry for consumers looking to access
next-generation mobile services and applications. And our recently
launched Carbon IQ by Assurant also enables our clients to
accurately track and report the Carbon Offset impact of their
Trade-in programs,” added Nair.
The latest Assurant 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 specialty products.
Learn more at assurant.com or on X (formerly Twitter)
@Assurant.
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version on businesswire.com: https://www.businesswire.com/news/home/20231107670461/en/
Assurant Media: Stacie Sherer Vice President, Corporate
Communications 917.420.0980 Stacie.Sherer@assurant.com
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