iPhones were the top-five traded devices
According to ComputerWeekly.com, a total of $2.11 billion was paid back to consumers in the US via mobile-device trade-in programs.
Historically, Q4 2020 is more resilient when it comes to trade-ins and mobile device upgrades.
In Q4, for instance, $786 million was returned to customers in the United States. This is a 38% increase compared to the third quarter which recorded $569 million worth of returns.
In 2019, a 19% increase from Q3 to Q4 was recorded. The average trade-in value and year-on-year growth for a smartphone also increased by 14%, a rise from $121.03 to $138.16. This was also a 23% increase compared to the 2019 fourth quarter which recorded $112.27 worth of returns.
Service providers see most trade-ins occurring due to the launch of new devices, the holiday season, Black Friday, and other promotions from retailers, operators, and manufacturers. For instance, the launch of the iPhone 12 in October led to a stronger fourth quarter of 2020.
In 2020, iPhones were the top-five traded devices. iPhone 7 led the top-traded devices. This was closely followed by the iPhone8, iPhone 8 plus, iPhone X, and iPhone 7 plus.
Among Android devices, the Samsung Galaxy S9 was 2020’s top-traded device. It was also the top-traded device in the fourth and third quarters. Since the first and second quarters, the most traded Android device was the Samsung Galaxy S7.
In 2020, the average iPhone device trade-in value was $169.85. The Android smartphone trade-in value was $95.37. The average trade-in value of any device in 2020 was $124.51.
We’ve reported that the Chinese economy in dollar terms will overtake the US economy in 2028.