Over $400 million returned to US consumers as part of mobile device trade-ins
1 August 2018 – HYLA Mobile, the world’s leading provider of software technology and services for mobile device trade-ins and reuse solutions, has released its Q2 2018 trade-in data trends report, highlighting the rise of Samsung smartphone trade-ins during last quarter. While Apple’s iPhones remained the top five traded devices for yet another quarter, Samsung trade-ins increased by 12%. Overall, smartphone trade-ins during the quarter returned $414,198,041 to US consumers.
HYLA Mobile’s Q2 trade-in trends report analyzes competitive market trends along with historical performance. It offers a unique perspective on the North American pre-owned device market, including which devices retain their value and how long customers are keeping their devices. Key findings of the report highlight:
- Mobile device trade-ins returned $30 million more in Q2 2018 than in Q2 2017
- Mobile device trade-ins for the quarter have grown by 32% compared to the same quarter last year
- From a Samsung perspective, Galaxy S7 trade-ins have increased by 32% from Q1
- The top 5 traded devices in Q2 were all iPhones-the same as Q1 of this year
- Specifically, the iPhone 6 was the top traded device, as it has been every quarter since Q1 2016
- The iPhone X was the device with the highest average trade-in value of $529.66. HYLA Mobile’s data therefore shows the iconic device at trade-in has retained 53% of its retail value since its launch last November
- The average trade-in price for a smartphone during Q2 was $100.59. Specifically, the average trade-in price for an Android smartphone was $76.50, while the average trade-in value of an iPhone was more than double this at $158.31
- The average age of a smartphone at trade-in is 2.8 years. Again specifically, the average age of an iPhone at trade-in was 2.91 years, while an Android smartphone is 2.58 years.
“Operators, retailers and OEMs are realizing that mobile device trade-ins not only boost their bottom line, but they also add tremendous value for the customer as well. We’re seeing more operators, retailers and OEMs use trade-ins as a way to remain competitive, with deals like buy-one-get-one-free combined with a device trade-in, as well as OEM specific trade-in programs to boost loyalty,” said Biju Nair, President & CEO of HYLA Mobile. “With trade-ins of popular devices like the iPhone and the Galaxy series on the rise, all the players have an opportunity to maximize the latent value within these devices, whether that’s for insurance purposes, or to satisfy the ever-growing demand in emerging markets, while still giving incentivizing the consumer.”
Having collected more than 50 million devices since its inception 9 years ago, HYLA Mobile helps mobile operators, OEMs, retailers and insurance companies retain their subscribers, increase new revenue streams, drive down costs as well as contribute to sustainability efforts. By using AI, analytics and insights as well as software and automation focused on maximizing recovery value, HYLA Mobile gives customers the solutions to operate seamless mobile trade-in programs that improve efficiency, reduce churn and drive profitability.
HYLA Mobile’s Q2 2018 trade-in trends infographic is available to download here: http://contacts.hylamobile.com/mobile-trade-in-industry-trends-q2-2018