The iPhone 11 was the most traded-in device in 2023

Assurant , a global business services company, reports that revealed that US$4.3 billion was returned to U.S. consumers through mobile device trade-in programs in 2023. 

The $4.3 billion is a record industry-wide high as recorded by Assurant and is a 13% increase over 2022. In quarter four (Q4) specifically, $1.6 billion was returned to consumers via trade-in programs – the highest on record for this quarter.

Key findings from the “Assurant 2023 Mobile Trade-in and Upgrade Industry Trends” report include:

The iPhone 11 was once again the top device turned in through trade-in and upgrade programs.
Following the iPhone 11, the iPhone 12, iPhone 12 Pro Max, iPhone XR, and iPhone 12 Pro were the most popular devices turned in.
Variations of the iPhone 12 made up more than half (51%) of the top five devices turned in during the year.
The Samsung Galaxy S21 was the top turned in Android device of 2023.
The average age of devices at trade-in was 3.46 years.
The number of trades conducted online in 2023 increased 10% year-over-year compared to 2022.

Highlights from Q4 2023 include:

Q4 2023 saw a total of $1.6 billion returned to U.S. consumers — a 25% increase from Q4 2022.
The iPhone 11 was the top device turned in through trade-in and upgrade programs, making up almost 30% of the top five devices. This was closely followed by the iPhone 12 at 23%.
The iPhone 11 has been the top turned in device for the last seven consecutive quarters.
iPhone trade-in values were the highest on record in Q4 2023, at $218, up from $186 in Q3 2023.
In Q4, four of the top five turned in devices were 5G enabled.

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