iPhone 11 has been number one device turned in from upgrade programs, for nine quarters
Consumers continue to hold on to their current smartphones, particularly their iPhones, for increasingly long periods before upgrading: Nearly 4 years, now, according to new data from device services company Assurant.
The average age of iPhones when they were turned in via trade-in or upgrade programs increased from 3.6 years in the first quarter of 2024, to 3.8 years in the second quarter of this year, Assurant found. Android devices saw a downtick in length between upgrades, however, with the average device age dropping from 3.7 years in Q1 2024 to 3.5 years in the second quarter.
Meanwhile, trade-in values are up. Assurant said that the average trade-in value for Android device users was up 37% between the first and second quarters of 2024, while Apple device users saw a 20% bump. Assurant said that the average trade-in value for mobiles reached $141, with the average iPhone trade-in value at about $198 while Android devices lagged at an average of $103.45.
The iPhone 11 was the number one device turned in overall, and accounted for 31% of the top five models (as well as being the only 4G phone in the top five). The number one Android device turned in was Samsung’s Galaxy S21, which saw turn-in volumes increase 20% between the first half of 2023 and the first half of this year.
“The notable year-over-year increase in the volume of Samsung’s Galaxy S21 turned in from trade-in and upgrade programs in the first half of the year was potentially driven by Samsung’s new product launch in January,” said Biju Nair, EVP and president of Global Connected Living and International at Assurant. “During that launch, Samsung introduced Galaxy AI, one of the first and most impactful consumer-facing AI innovations seen in mobile devices since the advent of voice assistants. This suggests that while consumers are holding onto their phones longer than ever, those who are trading in may be motivated by innovative, user-centric capabilities, powered by AI.”
Rebekah Griffiths, vice president of Product Management and Strategy, added, “Given the strong consumer interest in AI capabilities, we anticipate a supercycle of upgrades when Apple launches their new devices that will support an embedded Apple Intelligence expected later this year.”
