HYLA Mobile, a provider of software technology and services for mobile device trade-ins and reuse solutions, says that ver $627 million was returned to U.S. consumers in the third quarter (Q3) of 2018 thanks to mobile device trade-ins. This is an increase of 51% from Q2 2018, which saw $414 million returned to U.S. consumers from trade-ins.
Q3 is typically a strong quarter for mobile device trade-ins. Last year, HYLA Mobile saw a similar $200 million increase from Q2 2017 ($384 million) to Q3 2017 ($581million). HYLA Mobile’s data shows an 8% year-on-year increase in mobile device trade-ins.
HYLA Mobile’s Q3 2018 mobile device trade-in trends report analyzes competitive market trends along with historical performance. It offers a perspective on the U.S. pre-owned device market, including which devices retain their value and how long customers are keeping their devices. Key findings of the recent report reveal that:
The iPhone 6 remained the most traded mobile device in Q3. According to HYLA Mobile’s data, the iPhone 6 has been the top traded device for nine consecutive quarters, since Q3 of 2016.
Q3 saw Samsung re-enter the list of top five traded devices, with its Galaxy S7 taking fifth position. The iPhone 6, iPhone 6s, iPhone 7 and iPhone 7 Plus held the top four top traded device positions during last quarter. According to HYLA Mobile’s data, Apple had held all top five top traded device positions since Q3 2017.
The iPhone X was the device with the highest average trade-in value at $484.87.
The average value of a smartphone at trade-in during Q3 was $88.69. The average value of an Android smartphone at trade-in was $61.58, while the average value of an iPhone at trade-in during Q3 was more than double this at $146.22.
The trend of holding on to devices for longer continued with an increase from an average age of 2.80 years in Q2, to 2.83 years in Q3. The average age of an iPhone at trade-in was 2.92 years, while Android was 2.66 years.