In the first quarter of 2025, US tech consumers raked in $1.24 billion from mobile trade-in and upgrade programs, a striking 40% jump compared to last year. This boom coincided with a shift towards prioritizing artificial intelligence in device upgrades. By late 2024, 5G smartphones led the charge in trade-ins.
The Mobile Trade-In and Upgrade Trends report highlights a vibrant secondary market. Promotions have surged, boosting trade-in volumes and encouraging consumers to part with newer devices that fetch higher values. Interestingly, while people are trading in newer models, the average age of turned-in devices hit a record 3.82 years.
More consumers are tapping into trade-in promotions, especially as economic uncertainty looms. The study reveals the iPhone 13 remains the most frequently traded-in model for the third quarter in a row, while the Samsung Galaxy S22 Ultra 5G tops the Android category. This marks a shift from early 2024 when the iPhone 11 led the pack, reflecting the growing presence of 5G devices in the secondary market.
Of the top five traded devices, an impressive 85% were 5G-enabled, with the iPhone 11 being the only 4G device in that mix. The average turn-in age for iPhones was about 3.79 years, while Androids were slightly older at 3.93 years, marking the highest average ages recorded so far.
Despite seeing three-year-old models in the top five, Assurant noted that the lack of promotions for older devices suggests consumers aren’t compelled to upgrade. Perhaps their current devices still meet their needs, or financial considerations are holding them back.
The influx of higher-end pre-owned smartphones has opened doors for consumers seeking premium devices at lower prices, while reducing electronic waste. This trend supports the environment and enhances the secondary market by making sought-after devices more accessible.
Biju Nair, president of global connected living and international at Assurant, highlighted that the rise of AI devices fueled trade-in activity throughout 2024, and now, with economic uncertainty, affordability is playing a bigger role in purchase decisions.
Nair expects the secondary device market to keep thriving as trade-in programs continue to deliver value, making the latest technology more accessible and supporting sustainability.