2023Q2 US Mobile phone Trade-in report: the iPhone credit value is nearly three times that of Android phones.
CTOnews.com August 17 news, global business services company Assurant recently released a report, said the second quarter of this year the United States smartphone trade-in deduction price of $135, the same period Apple iPhone deduction price of $215, a new value record.
CTOnews.com previously reported that Assurant's first-quarter report showed that Apple's iPhone trade-in value exceeded $200 for the first time since the third quarter of 2021. Apple iPhone trade-in prices climbed again in the second quarter.
Assurant's second quarter report highlights the following:
The company's cumulative deductible payments to consumers were $872 million in the quarter, unchanged from $865 million in the first quarter.
The top five devices with the most trade-in deductions are iPhone 11, iPhone 12, iPhone XR, iPhone 12 Pro Max and iPhone 11 Pro Max.
5G-enabled devices accounted for 34% of the list, compared with 29% in the previous quarter.
The Galaxy S21 overtook the Galaxy S9 (which held the No. 1 position throughout 2022) to become the most traded Samsung device for the first time.
The overall average redemption value for all smartphones was $135, up from $126 in the first quarter of 2023.
The average deductible price for Android phones is $77.18, and Apple's iPhone is 2.78 times that.
The average age of devices continues to rise as they trade in: the average age of all devices increased by 6% to 3.56 years; the average age of iPhones increased by 4% to 3.55 years, while the average age of Android increased by 10% to 3.58 years.
Online trade-ins accounted for 16 percent of the quarter's total trade-ins. Online trade-in also increased by 15% year-on-year compared with the second quarter of 2022.
Apple Watch Ultra trade-in prices also exceeded $200 this quarter, with an average trade-in price of $208 for the quarter.
Related Reading:
"2023Q1 US trade-in scale of $865 million: iPhone average value of $201"
