$874 Million Returned to U.S. Consumers Through Mobile Trade-In Programs in Q1 2024
Assurant (NYSE:AIZ) , a leading global business services company that supports, protects and connects major consumer purchases, today revealed that mobile trade-in programs put an estimated $874 million into U.S. consumers’ pockets in Q1 2024.
- Assurant (NYSE:AIZ) , a leading global business services company that supports, protects and connects major consumer purchases, today revealed that mobile trade-in programs put an estimated $874 million into U.S. consumers’ pockets in Q1 2024.
- Variations of the iPhone 12 made up almost half of the top five devices turned in via trade-in and upgrade programs for the last two quarters (39% and 42% retrospectively).
- Having launched in October 2020, consumers upgrading these devices to newer models is seemingly contributing to the average age of devices.
- Overall, the average trade-in value of smartphones has decreased in the last three months, falling from $147 in Q4 2023 down to $110 in Q1 2024.