Mobile trade-in programs in the U.S. returned $571 million to consumers, a 152% increase from Q2 2020 and a 25% increase over Q2 2019, reflecting a return to pre-pandemic levels, according to Assurant's Q2 Mobile Trade-in and Upgrade Industry Trends report.
Assurant’s Q2 report, which provides insights into trade-in and upgrade trends in the North American market, outlines the top smartphones turned in, the average age and value of smartphones at trade-in and upgrade, as well as trade-in trends for Apple Watches from the quarter. The report is based on data from Assurant’s Device IQ analytics platform, as well as industry market data.
“New device sales continue to benefit from strong trade-in and upgrade programs,” said Biju Nair, President of Global Connected Living at Assurant. “And, with more consumers wanting the latest 5G devices, we expect to see these programs continue on an upward growth trajectory, as carriers, retailers, OEMs and cable operators continue to run promotions to encourage consumers to upgrade and make the move to 5G more affordable. Additionally, the value of secondary devices is not only holding but increasing even as the average device age grows.”
The Q2 Mobile Trade-in and Upgrade Industry Trends report reveals:
- The top five devices received through trade-in and upgrade programs in Q2 were: iPhone XR, iPhone 8, iPhone 8 Plus, iPhone 11 and iPhone X. For the second quarter in a row, the iPhone XR was the most popular device turned in and made up 28% of the top five devices.
