Assurant: trade-in volumes rise sharply as consumers cash in on newer Apple iPhones

Apple iPhone 13 leads again

For the third straight quarter, the Apple iPhone 13 has held the number-one spot in trade-in volumes. It highlights a trend of users trading in relatively recent, high-value models. Among the top five traded-in devices, 85% were 5G models, while the Apple iPhone 11 stood out as the only 4G device in the mix. Samsung’s Galaxy S22 Ultra 5G continues to lead the Android segment, also for a third consecutive quarter.

Devices stay longer in consumer hands

The report reveals a rise in the average age of devices at trade-in. Apple iPhones now average 3.79 years at turn-in, while Androids reach 3.93 years — both record highs. Although newer models feature heavily in trade-in lists, older devices are not being upgraded in large numbers. Assurant suggests that unless strong promotions target these older units, consumers are likely to hold on to them even longer.

Different residual values by region

Assurant’s data highlights notable global differences in average trade-in values for Android and Apple iPhones. Consumers in Asia receive the highest returns for their devices, while those in Latin America get the lowest. The primary reason for this gap lies in the type of devices being traded. In Asia, trade-ins tend to involve premium smartphones, which retain higher residual value. In contrast, the Latin American market is still relatively new to device trade-ins, with limited competition in the buyback sector, resulting in lower values.

Meanwhile, Europe sits between these two extremes. As the European trade-in ecosystem matures and competition among buyers increases, average residual values are steadily rising. These dynamics reflect the growing importance of regional maturity and device quality in shaping trade-in economics.

Outlook: Incentives remain critical

The secondary mobile market benefits from vibrant trade-in activity. However, rising device age indicates that ongoing upgrades depend heavily on promotions. Without them, consumers may delay replacing their devices despite the availability of improved technology. Future growth will rely on creative upgrade incentives and sustained device value retention.