The average iPhone trade-in value breaks the $200 mark for the first time

News on May 31, according to the latest report released by business services company Assurant, trade-in services reached a huge payment volume in the U.S. market in the first quarter of 2023, totaling US$865 million (approximately 6.124 billion yuan) ). The average iPhone replacement value exceeded $200 for the first time since the third quarter of 2021, a data that marks the continuation of this trend.

According to the editor's investigation, the report summarizes the following main information: In the first quarter of 2023, the average iPhone replacement price reached US$201. This is the first time that the average iPhone trade-in value has exceeded the $200 mark since the third quarter of 2021 reached $207.

In terms of transaction volume, iPhone 11, iPhone XR, iPhone 12, iPhone 11 Pro Max and iPhone 12 Pro Max was among the top five devices traded this quarter. Among them, iPhone 11 has been the most traded device for four consecutive quarters, accounting for 38% of the top five traded devices.

The iPhone 12 and iPhone 12 Pro Max models that support 5G account for 29% of the top five traded devices.

In addition, Pixel 6 Pro has become the Android model with the largest trade-in volume for the second consecutive quarter.

The report also noted that the average age of smartphones traded in was 3.35 years, slightly higher than the 3.26 years in Q4 2022.

Meanwhile, online trade-in services grew 41% year-on-year in the first quarter of 2023.

In terms of wearable devices, Apple Watch Series 7 has the highest average trade-in value at $89.04, a 22% decrease compared to the fourth quarter of 2022.

The above is data and information based on Assurant’s latest report, showing the performance and trends of trade-in services in the US market.

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