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Average age of smartphones turned in via trade-in, upgrade programs breaks 3.5-year threshold

Assurant — a global business services company that supports, protects and connects major consumer purchases — has revealed that consumers are continuing to hold on to their smartphones for longer, with the average age turned in through trade-in and upgrade programs crossing the 3.5-year mark for the first time. 

The report sys that US$767 million was returned to US consumers in Q2 2022 through mobile device trade-in programs which is a 34% increase from the same quarter last year, even as consumers hold on to their devices for a longer time.

These findings are part of Assurant’s quarterly Mobile Trade-in and Upgrade Industry Trends report for Q2 2022, which reveals steady growth in the secondary device market year over year. The report uses data from Assurant’s Device IQ analytics platform, as well as industry market data, to provide insights into the device trade-in and upgrade trends in North America. 

The report outlines the top smartphones turned in through trade-in and upgrade programs during the quarter, the average age and value of smartphones at trade-in and upgrade, along with trade-in trends for Apple watches. Here are some highlights from the report are:

Article provided with permission from AppleWorld.Today
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