The average age of used devices at the time of trade-in or upgrade has increased to 3.71 years, up from 3.64 years in Q1 2024.
This is according to Assurant’s report on emerging trends in the secondary mobile device market and the trade-in and upgrade patterns among consumers.
The increase in upgrade times is primarily driven by iPhones, which saw their average trade-in age rise from 3.63 years in the first quarter to 3.78 years in the second quarter. In contrast, the average age of Android smartphones at trade-in decreased slightly, from 3.67 years to 3.5 years, highlighting a shift in user behavior between these two major platforms.
Surge in Trade-In Values
Assurant allso highlights a rise in trade-in values for both Apple and Android devices. Android smartphones experienced a remarkable 37 percent increase in average trade-in value, reaching $103.45 compared to the previous quarter.
Apple iPhones, despite being older on average at the time of trade-in, did not see a decline in value. Instead, the average trade-in value for iPhones rose by 21 percent, from $163.47 in Q1 2024 to $198.01 in Q2 2024. The combined average trade-in value for all devices in the second quarter was $141.02, reflecting a robust demand for pre-owned mobile devices.
iPhone 11 Dominant
The Apple iPhone 11 continues to be a standout in trade-in programs, marking its ninth consecutive quarter as the most traded-in device. With a 31.01 percent share among the top five traded-in devices, the iPhone 11 remains the only 4G device to consistently rank at the top, even as 5G adoption grows. This enduring popularity underscores the iPhone 11’s strong market presence and consumer preference, despite the increasing availability of newer 5G models.
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