Value of mobile device trade-ins up 40% in US

The latest Assurant study of the secondary device market has found that in the first quarter of 2025, US tech consumers received $1.24bn from mobile trade-in and upgrade programmes, a significant 40% increase from the same quarter last year.

This follows a year when artificial intelligence (AI) began to emerge as a higher priority in consumers’ decisions to upgrade devices in 2025, and newer 5G-capable smartphones became the top turned-in devices in the second half of 2024.

The Mobile trade-in and upgrade industry trends report for the first quarter of 2025 shows that as the year began, the mobile device trade-in and upgrade landscape continued to grow, becoming increasingly fundamental to the secondary market, which Assurant said simultaneously benefits a number of members of the smartphone ecosystem.

Key themes were an upsurge in promotions – a key driver in trade-in volumes – and the devices being traded in to receive the promotions being relatively newer models, garnering higher values.

Yet even as turned-in devices were trending towards newer smartphones, the average device age reached a record high of 3.82 years. The study observed that the growing number of trade-in programmes continued to expand amid rising demand for AI-enabled mobile devices.

Additionally, Assurant’s report indicated that, towards the end of the quarter, macroeconomic uncertainty drove more consumers to take advantage of trade-in programmes and promotions.

Looking at specific devices, the study found that for the third consecutive quarter, the iPhone 13 was the most frequently traded-in device overall, while the Samsung Galaxy S22 Ultra 5G was the most traded-in Android device.

This marks a shift from the first half of 2024, when the iPhone 11 took the top spot overall, and highlights the increased share of 5G devices entering the secondary market, driven by the iPhone 12, launched in October 2020, being the first 5G-compatible Apple phone. Of the top five devices in the latest study, 85% were 5G-enabled, with the iPhone 11 as the lone 4G device in the mix.

The average age of an iPhone at turn-in reached 3.79 years, with Android devices being slightly older at 3.93 years. Assurant noted that these figures represent the highest average ages it had seen to date.

Yet despite seeing three-year-old models in the top five list, Assurant believes the lack of promotions targeting older devices suggests consumers aren’t swayed to upgrade without those promotions, perhaps because these devices continue to meet their needs or because upgrading is financially challenging at this time.

The business services company posed the question as to whether the study will soon see this figure hit the four-year mark.

Assurant observed that the influx of higher-end pre-owned smartphones into the secondary market offers consumers access to premium devices at more affordable prices, while also reducing electronic waste. This trend, it said, not only benefits the environment, but also strengthens the secondary market by expanding the availability of highly sought-after devices.

“Through 2024, the adoption of new, highly capable AI devices caused an uptick in trade-in and upgrade programmes. At the start of this year, amid economic uncertainty, affordability is now also playing more of a role in purchase decisions,” remarked Biju Nair, president of global connected living and international at Assurant.

“We anticipate continued momentum in the secondary device market as these programmes deliver value, help consumers access the latest technology at a lower cost, and support sustainable practices,” Nair added.