Assurant, a world enterprise providers firm, has revealed that the typical trade-in worth of smartphones reached US$135 throughout quarter two (Q2) of this yr.
iPhones reached their highest recorded worth of $215 throughout the identical timeframe. Assurant’s knowledge highlights the continued rise in worth of pre-owned units—in Q1 of this yr, it reported that the typical trade-in worth of iPhones surpassed the $200-mark for the primary time since Q3 2021.
Highlights from Assurant’s newest quarterly Cellular Commerce-in and Improve Business Tendencies report embody:
- $872 million was returned to U.S. shoppers by trade-in and improve packages in Q2 2023. This stays flat when in comparison with Q1 2023 ($865 million).
- The highest 5 traded units had been the iPhone 11, iPhone 12, iPhone XR, iPhone 12 Professional Max, iPhone 11 Professional Max; 5G succesful units make up 34% of the checklist as in comparison with 29% final quarter.
- For the primary time the Galaxy S21 was essentially the most traded Samsung system unseating the Galaxy S9 which held that place all through 2022.
- The general common trade-in worth of all smartphones was $135, up from $126 in Q1 2023.
- The common age of units at trade-in continues to rise; the typical age of all units elevated by 6% to three.56 years; the typical age of iPhones elevated by 4% to three.55 years whereas Android elevated by 10% to three.58 years.
- On-line trade-ins accounted for 16% of complete trade-ins for the quarter. On-line trade-ins additionally noticed a 15% year-on-year enhance from Q2 2022.
- Additionally surpassing the $200-mark for trade-ins is the Apple Watch Extremely which had a median trade-in worth of $208 for the quarter.
Assurant’s Cellular Commerce-in and Improve Business Tendencies report combines knowledge from its System IQ analytics platform and trade market knowledge. The newest report is out there to obtain right here.
