Smartphone Trade-In Market Sees Significant Shifts and Value Growth
New data highlights evolving trends in the smartphone trade-in landscape, revealing longer retention periods for Android devices and a substantial increase in trade-in credit distributed to consumers.
Android Users Holding Onto Devices Longer
Smartphone users are now retaining their Android devices for extended periods, even exceeding the retention duration for iPhone users. The latest statistics show a notable increase in how long Android devices are kept before trade-in.
The average Android device age at trade-in has increased to 3.96 years, up from 3.52 years previously.
This trend is likely supported by device manufacturers like Samsung, which have extended support periods for their flagship models, such as the current Galaxy S series offering seven years of support.
Record Trade-In Values Boost Consumer Returns
The past year saw unprecedented financial returns for consumers trading in their used smartphones. Customers received a record $6.4 billion in trade-in credit and cash for their used devices last year, a significant increase from $4.5 billion in the prior year.
This represents a substantial 42% year-over-year rise in value returned to consumers for both Android and iOS devices. The final quarter of the year proved particularly lucrative for trade-ins.
The fourth quarter alone saw $2.8 billion in returns, coinciding with the launch of new iPhone models.
Most Popular Trade-Ins Revealed
Specific models emerged as the most frequently traded-in devices across both major operating systems.
Among iOS devices, the iPhone 13 was the most frequently traded-in model.
On the Android side, the Galaxy S22 Ultra was the leading device traded in by users.