Bjorn Reddington on his cellphone (Photo – Vahe Simonyan).
Consumers are holding on to their mobile devices for almost 4 years, longer than ever before.
By News Desk
The average age of a mobile device turned in from trade-in or upgrade programs in the U.S. has reached an all-time high of 3.7 years, and the average trade-in value per device increased from $110.87 to $141.02.
The latest findings are detailed in the Assurant Mobile Trade-In and Upgrade Industry Trends Report, which shows the increasing value of trade-in and upgrade programs for both consumers and wireless providers.
Some key industry highlights from the Q2 2024 report include:
- The average trade-in value for consumers rose, compared to the first quarter of 2024, with Android devices seeing a notable 37% increase and Apple devices experiencing a 20% rise.
- The most common devices turned in were the iPhone 11 and the Samsung Galaxy S21.
- The average age of iPhones at turn-in was 3.8 years, while the average age of Android devices was 3.5 years.
ReUse Your Cellphone
For every device that is reused instead of having a new device manufactured, there is a positive impact on the environment. Assurant Carbon IQ℠ reports that approximately 385,000 metric tons of carbon emissions have been avoided because of trade-in and upgrade programs in the second quarter of 2024.
If you want to know more
The latest Assurant Mobile Trade-In and Upgrade Industry Trends report combines data from Assurant’s proprietary Device IQ analytics platform and industry market data. The latest report is available to download here.
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