Assurant Reports Mobile Trade-In Programs Returned $1.24 Billion to Consumers in Q1 2025,
ATLANTA--(BUSINESS WIRE)-- Assurant, Inc. (NYSE: AIZ), a premier global protection company that safeguards and services connected devices, homes, and automobiles in partnership with the world's leading brands, today released findings from the Assurant Q1 2025 Mobile Trade-In and Upgrade Industry Trends Report, which tracks the state and evolution of the secondary device market according to Assurant and industry data. The report highlights a significant year-over-year increase in the total value returned to consumers through trade-in programs, totaling $1.24 billion in the first quarter of 2025 – a 40-percent increase over the same period in 2024.
While the average device age reached a record high of 3.82 years, Assurant's report also indicates that turned-in devices are trending toward newer smartphones, as trade-in programs continue to expand amid rising demand for AI-enabled devices. Additionally, toward the end of the first quarter of this year, macroeconomic uncertainty also drove more consumers to take advantage of trade-in programs and promotions.
'Through 2024, the adoption of new, highly capable AI devices caused an uptick in trade-in and upgrade programs. At the start of this year, amid economic uncertainty, affordability is now also playing more of a role in purchase decisions,' said Biju Nair, President, Global Connected Living & International at Assurant. 'We anticipate continued momentum in the secondary device market as these programs deliver value, help consumers access the latest technology at a lower cost, and support sustainable practices.'
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 is 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. The influx of higher-end preowned smartphones into the secondary market offers consumers access to premium devices at more affordable prices, while also reducing electronic waste. This trend not only benefits the environment but also strengthens the secondary market by expanding the availability of highly sought-after devices.
The Assurant Q1 2025 Mobile Trade-in and Upgrade Industry Trends Report is available for download here.
About Assurant
Assurant, Inc. (NYSE: AIZ) is a premier global protection company that partners with the world's leading brands to safeguard and service connected devices, homes, and automobiles. As a Fortune 500 company operating in 21 countries, Assurant leverages data-driven technology solutions to provide exceptional customer experiences.
Learn more at assurant.com.
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