Assurant reports on latest mobile device trends as trade in values on the rise

Apple iPhone users extending device lifespans

One of the key takeaways from Assurant’s latest report is the increased lifespan of mobile devices, particularly among Apple iPhone users. On average, devices at trade in or upgrade were 3.71 years old, up from 3.64 years in the previous quarter. This trend was largely driven by iPhones, which saw their average age at trade in rise from 3.63 years in Q1 2024 to 3.78 years in Q2 2024. Conversely, the average age of Android smartphones decreased slightly, from 3.67 years to 3.5 years.

Rising trade in values for smartphones

Assurant’s report also indicates a significant increase in trade in values across both Apple iPhones and Android devices. Android smartphones saw a remarkable 37% increase in average trade in value, rising to US$ 103.45 from the previous quarter. Interestingly, despite the older age of traded-in Apple iPhones, their value did not diminish. Instead, the average trade in value for Apple iPhones jumped by 21%, from US$ 163.47 in Q1 2024 to US$ 198.01 in Q2 2024. The combined average trade in value for the second quarter was US$ 141.02, reflecting a healthy demand for pre-owned devices.

Apple iPhone 11 continues to dominate trade in Programs

The Apple iPhone 11 continues to dominate the trade in landscape, maintaining its position as the most traded-in device for the ninth consecutive quarter. Holding a 31.01% share among the top five traded-in devices, the iPhone 11 is also the only 4G device to make the list, underscoring its enduring popularity even as 5G technology becomes more widespread.