It’s Only Common Sense: Your Biggest Competitor Is Complacency
The Chemical Connection: Onshoring PCB Production—Daunting but Certainly Possible
U.S. Consumers Holding Onto their Mobile Devices Longer than Ever
August 21, 2024 | BUSINESS WIREEstimated reading time: 2 minutes
Assurant, Inc., a leading global business services company that supports, protects, and connects major consumer purchases, revealed that the average age of a mobile device turned in from trade-in or upgrade programs has reached an all-time high of 3.7 years, based on Assurant and industry data. With the average trade-in value per device increasing nearly 28% quarter-over-quarter from $110.87 to $141.02, consumers received an estimated $829M of value by trading in their devices in the second quarter.
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 a 20% 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.”
Share on:
Testimonial
"In a year when every marketing dollar mattered, I chose to keep I-Connect007 in our 2025 plan. Their commitment to high-quality, insightful content aligns with Koh Young’s values and helps readers navigate a changing industry. "
Brent Fischthal - Koh YoungSuggested Items
AI Triggers Next Paradigm Shift in PDN
10/23/2025 | Istvan Novak, SamtecArtificial intelligence (AI), together with machine learning (ML), is creating an unprecedented surge of computing and networking infrastructure needs. This, in turn, has dramatically increased the power consumption of computing and networking chips.
Teledyne FLIR Defense to Deliver Portable Chemical Detectors to US Customs and Border Protection
10/21/2025 | BUSINESS WIRETeledyne FLIR Defense, part of Teledyne Technologies Incorporated, announced that it has received an order from U.S. Customs and Border Protection (CBP) for 15 of its Griffin™ G510x portable chemical detectors, specifically designed to analyze and identify explosives and narcotics, such as fentanyl and nitazenes, within five minutes.
Curtiss-Wright to Supply Turret Drive Stabilization Systems for U.S. Army XM30 Combat Vehicle Prototypes
10/16/2025 | BUSINESS WIRECurtiss-Wright Corporation announced that it has been selected by American Rheinmetall to provide its Turret Drive Stabilization System (TDSS) for the prototype phase of the U.S. Army’s XM30 Combat Vehicle (CV) program, which was recently approved to advance to Milestone B, the Engineering and Manufacturing Development (EMD) phase.
Episode 6 of Ultra HDI Podcast Series Explores Copper-filled Microvias in Advanced PCB Design and Fabrication
10/15/2025 | I-Connect007I-Connect007 has released Episode 6 of its acclaimed On the Line with... American Standard Circuits: Ultra High Density Interconnect (UHDI) podcast series. In this episode, “Copper Filling of Vias,” host Nolan Johnson once again welcomes John Johnson, Director of Quality and Advanced Technology at American Standard Circuits, for a deep dive into the pros and cons of copper plating microvias—from both the fabricator’s and designer’s perspectives.
American Standard Circuits Achieves Successful AS9100 Recertification
10/14/2025 | American Standard CircuitsAmerican Standard Circuits (ASC), a leading manufacturer of advanced printed circuit boards, proudly announces the successful completion of its AS9100 recertification audit. This milestone reaffirms ASC’s ongoing commitment to the highest levels of quality, reliability, and process control required to serve aerospace, defense, space, and other mission-critical industries.