U.S. Consumers Holding Onto their Mobile Devices Longer than Ever
Assurant's Q2 2024 Mobile Trade-In and Upgrade Industry Trends Report reveals significant shifts in consumer behavior and device values. The average age of traded-in mobile devices reached an all-time high of 3.7 years, while the average trade-in value increased by nearly 28% quarter-over-quarter to $141.02. Consumers received an estimated $829M in value from trade-ins.
Key highlights include:
- Android trade-in values rose 37%, Apple devices 20%
- iPhone 11 was the top traded device (31% of top 5)
- Samsung Galaxy S21 remained the top Android trade-in
- iPhone trade-in age increased to 3.8 years, Android decreased to 3.5 years
The report also notes that trade-in programs helped avoid approximately 385,000 metric tons of carbon emissions in Q2 2024.
Il rapporto di Assurant sulle tendenze del mercato dei cambi e degli aggiornamenti per il secondo trimestre del 2024 rivela cambiamenti significativi nel comportamento dei consumatori e nei valori dei dispositivi. L'età media dei dispositivi mobili consegnati ha raggiunto un massimo storico di 3,7 anni, mentre il valore medio del cambio è aumentato di quasi il 28% rispetto al trimestre precedente, arrivando a $141,02. I consumatori hanno ricevuto un valore stimato di $829 milioni dai cambi.
I punti salienti includono:
- I valori dei cambi Android sono aumentati del 37%, quelli dei dispositivi Apple del 20%
- l'iPhone 11 è stato il dispositivo più scambiato (31% dei primi 5)
- il Samsung Galaxy S21 è rimasto il principale dispositivo Android scambiato
- l'età media degli iPhone scambiati è aumentata a 3,8 anni, mentre quella degli Android è diminuita a 3,5 anni
Il rapporto nota anche che i programmi di cambio hanno contribuito a evitare circa 385.000 tonnellate metriche di emissioni di carbonio nel secondo trimestre del 2024.
El Informe de Tendencias de Intercambio y Actualización de Dispositivos Móviles de Assurant para el segundo trimestre de 2024 revela cambios significativos en el comportamiento del consumidor y en los valores de los dispositivos. La edad promedio de los dispositivos móviles intercambiados alcanzó un récord histórico de 3.7 años, mientras que el valor promedio de intercambio aumentó casi un 28% en comparación con el trimestre anterior, alcanzando los $141.02. Los consumidores recibieron un valor estimado de $829 millones a través de los intercambios.
Los puntos clave incluyen:
- Los valores de intercambio de Android aumentaron un 37%, los de dispositivos Apple un 20%
- el iPhone 11 fue el dispositivo más intercambiado (31% de los 5 principales)
- el Samsung Galaxy S21 continuó siendo el principal dispositivo Android intercambiado
- la edad de intercambio del iPhone aumentó a 3.8 años, mientras que la de Android disminuyó a 3.5 años
El informe también señala que los programas de intercambio ayudaron a evitar aproximadamente 385,000 toneladas métricas de emisiones de carbono en el segundo trimestre de 2024.
Assurant의 2024년 2분기 모바일 교환 및 업그레이드 산업 동향 보고서는 소비자 행동과 기기 가치에서 중요한 변화를 보여줍니다. 교환된 모바일 기기의 평균 연령은 사상 최고인 3.7년에 도달했습니다, 평균 교환 가치는 분기별로 거의 28% 증가하여 $141.02에 달했습니다. 소비자들은 교환을 통해 약 $829M의 가치를 받았습니다.
주요 사항은 다음과 같습니다:
- 안드로이드 교환 가치는 37% 증가했으며, 애플 기기는 20% 증가했습니다
- 아이폰 11이 가장 많이 교환된 기기(상위 5위의 31%)였습니다
- 삼성 갤럭시 S21이 여전히 가장 많이 교환된 안드로이드 기기입니다
- 아이폰의 교환 연령은 3.8년으로 증가했으며, 안드로이드는 3.5년으로 감소했습니다
보고서에서는 또한 교환 프로그램이 2024년 2분기에 약 385,000톤의 탄소 배출을 줄이는 데 기여했다고 언급하고 있습니다.
Le rapport de tendance sur l'échange et la mise à niveau des appareils mobiles d'Assurant pour le deuxième trimestre 2024 révèle des changements significatifs dans le comportement des consommateurs et la valeur des appareils. L'âge moyen des appareils mobiles échangés a atteint un niveau record de 3,7 ans, tandis que la valeur moyenne d'échange a augmenté de près de 28 % par rapport au trimestre précédent, atteignant 141,02 $. Les consommateurs ont reçu une valeur estimée de 829 millions de dollars grâce aux échanges.
Les points clés incluent :
- Les valeurs d'échange des appareils Android ont augmenté de 37 %, celles des appareils Apple de 20 %.
- L'iPhone 11 était l'appareil le plus échangé (31 % des 5 premiers).
- Le Samsung Galaxy S21 est resté le principal appareil Android échangé.
- L'âge moyen des échanges d'iPhone a augmenté à 3,8 ans, tandis que celui des Android a diminué à 3,5 ans.
Le rapport note également que les programmes d'échange ont permis d'éviter environ 385 000 tonnes métriques d'émissions de carbone au deuxième trimestre 2024.
Der Bericht von Assurant über die Trends im Bereich Mobile Trade-In und Upgrade für das zweite Quartal 2024 zeigt bedeutende Veränderungen im Verbraucherverhalten und in den Gerätewerten. Das durchschnittliche Alter der getauschten Mobilgeräte erreichte mit 3,7 Jahren einen Höchststand, während der durchschnittliche Trade-In-Wert im Vergleich zum Vorquartal um fast 28 % auf 141,02 $ anstieg. Die Verbraucher erhielten durch Trade-Ins einen geschätzten Wert von 829 Millionen Dollar.
Wichtige Highlights sind:
- Die Trade-In-Werte für Android-Geräte stiegen um 37 %, für Apple-Geräte um 20 %.
- Das iPhone 11 war das meistgehandelte Gerät (31 % der Top 5).
- Das Samsung Galaxy S21 blieb das meistgehandelte Android-Gerät.
- Das Durchschnittsalter der iPhone-Trade-Ins stieg auf 3,8 Jahre, während das bei Android auf 3,5 Jahre fiel.
Der Bericht weist auch darauf hin, dass Trade-In-Programme dazu beigetragen haben, im zweiten Quartal 2024 etwa 385.000 metrische Tonnen an Kohlenstoffemissionen zu vermeiden.
- Average trade-in value per device increased 28% quarter-over-quarter from $110.87 to $141.02
- Consumers received an estimated $829M of value from device trade-ins in Q2 2024
- Android device trade-in values saw a 37% increase, while Apple devices experienced a 20% rise
- Samsung Galaxy S21 trade-in volume increased 20% in the first half of 2024 compared to the same period in 2023
- Trade-in and upgrade programs helped avoid approximately 385,000 metric tons of carbon emissions in Q2 2024
- Average age of mobile devices at trade-in or upgrade hit an all-time high of 3.7 years, indicating slower upgrade cycles
- Average age of iPhones at turn-in increased from 3.6 years in Q1 2024 to 3.8 years in Q2 2024
Insights
The report reveals a significant shift in consumer behavior, with the average device age at trade-in reaching an all-time high of 3.7 years. This trend suggests a potential slowdown in the smartphone upgrade cycle, which could impact manufacturers' revenue streams. However, the
The rise in trade-in values, particularly for Android devices (
The report highlights the impact of AI innovation on consumer behavior. The
The anticipation of Apple's upcoming AI-enabled devices, referred to as 'Apple Intelligence', could trigger a 'supercycle of upgrades'. This prediction implies that AI capabilities might become a key differentiator in the smartphone market, potentially reshaping competition among manufacturers and influencing future product development strategies.
The mobile trade-in market shows robust growth, with consumers receiving an estimated
However, the extended device lifecycle (3.7 years on average) may pose challenges for manufacturers' revenue models, potentially necessitating a shift towards services and software to maintain growth. The anticipated 'supercycle of upgrades' driven by AI innovations could provide a significant boost to the industry, potentially offsetting the impact of longer device retention periods.
Device age at trade-in or upgrade hits all-time high of 3.7 years
Samsung Galaxy S21 sees a significant increase in YOY volume from trade-in and upgrade programs
The latest findings are detailed in the Assurant Mobile Trade-In and Upgrade Industry Trends Report, which shows the increasing value of trade-in and upgrade programs for both consumers and wireless providers.
Key industry highlights from the Q2 2024 report include:
-
The average trade-in value for consumers rose compared to the first quarter of 2024, with Android devices seeing a notable
37% increase and Apple devices experiencing a20% rise. -
The number one device turned in from trade-in and upgrade programs, and the only 4G model, was the iPhone 11, accounting for
31% of the top five models. - For the fifth consecutive quarter, the number one Android device turned in from trade-in and upgrade programs was the Samsung Galaxy S21.
-
The volume of Samsung Galaxy S21 from trade-in and upgrade programs increased
20% in the first half of 2024, compared to the first half of 2023. - The average age of iPhones at turn-in increased from 3.6 years in Q1 2024 to 3.8 years in Q2 2024, while the average age of Android devices at turn-in decreased from 3.7 in the first quarter to 3.5 years in the second quarter.
- In addition to the financial benefit for consumers, for every device that is reused in lieu of a new device manufactured, there is a positive impact on the environment. Using estimates from Assurant Carbon IQ℠, an Assurant solution that provides insights on the carbon impact of individual connected devices, approximately 385,000 metric tons of carbon emissions have been avoided because of trade-in and upgrade programs in the second quarter.
"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, Global Connected Living & 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.”
The latest Assurant Mobile Trade-In and Upgrade Industry Trends report combines data from Assurant’s proprietary Device IQ analytics platform and industry market data to provide the latest insights into market trends. The latest report is available to download here.
About Assurant
Assurant, Inc. (NYSE: AIZ) is a leading global business services company that supports, protects and connects major consumer purchases. A Fortune 500 company with a presence in 21 countries, Assurant supports the advancement of the connected world by partnering with the world’s leading brands to develop innovative solutions and to deliver an enhanced customer experience through mobile device solutions, extended service contracts, vehicle protection services, renters’ insurance, lender-placed insurance products and other specialty products.
Learn more at assurant.com.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20240820488696/en/
Media:
Louis Masses
Director, Connected Living Communications
louis.masses@assurant.com
Source: Assurant, Inc.
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