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Pre-owned device values stay strong amidst Coronavirus pandemic: more than $535 million returned to US consumers in Q1 2020

Market stabilizes after Coronavirus disrupts the supply of both new and used devices

ID: 1557747
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(businesspress24) - 29th April 2020 – HYLA Mobile, the world’s leading provider of software technology and services for mobile device returns management and reuse solutions, today released data on mobile device trade-in trends for Q1 2020. HYLA’s data reveals that despite the Coronavirus pandemic causing significant disruption to the supply and distribution of new and pre-owned devices, it has not had much impact on pre-owned device values. In fact, according to HYLA’s exclusive data, pre-owned smartphones have held their value from Q4 2019 and returned more than $535 million ($535,785,783) to U.S. consumers through mobile device trade-ins in Q1 of this year—an increase of 1.5% from Q1 2019.

“Q1 of 2020 has been a quarter like no other—the Coronavirus pandemic has shocked the world and has had immeasurable impact on those that have lost loved ones. It has affected how we interact and has created economic uncertainty across every industry, including the telecoms industry,” said Biju Nair, President & CEO, HYLA. “During this time, smartphones have played an incredibly important role in our lives, keeping us close while we must remain physically distant. And the importance of these devices has been reflected in our trade-in data for the quarter, with demand for affordable refurbished smartphones sustaining strong values across the secondary device market.”

HYLA releases data on mobile device trade-in trends in North America on a quarterly and annual basis. It combines live market data from its analytics platform to uncover trends on the trade-in value of devices, the top traded smartphones, as well as the average age of smartphones at the point of trade-in.

Key findings from HYLA’s Q1 2020 trade-in trends research includes:

• The top traded device in Q1 was the iPhone 7, followed by the iPhone 7 Plus, iPhone 8 Plus, iPhone 6S and iPhone 8. The top five traded devices accounted for nearly 60% of smartphones traded. The Samsung S7 was the most traded Samsung device


• The iPhone 7 continued to be the top traded device for a fifth consecutive quarter, while variations of the iPhone 6 have featured in the top five traded devices since Q1 2016
• The iPhone 11 Pro Max received the highest trade-in value during the quarter at $560.97. The highest trade-in value recorded for the same device in Q4 2019 was $560.55. The highest trade-in value recorded for Samsung was the Galaxy Fold at $550.86
• When considering all smartphones traded-in across the quarter, the average value of a device at trade-in was $102.25. The average value of an Android smartphone at trade-in in Q1 was $66.82, while the average value of an iPhone was $171.11.
• The average age of a smartphone at trade-in is still three years (3.07 years). The average age of an iPhone at trade-in during Q1 was 3.17 years (up from 3.11 years in Q4 2019), while the average age of an Android smartphone at trade-in was 2.77 years (up from 2.67 years in Q4 2019).

Biju Nair continues: “As COVID-19 spread aggressively from the start of the year, emanating from China, a country that manufactures 70 per cent of the world’s smartphones, our analytics platform reported some fluctuations in pre-owned device prices. As refurbishment facilities closed, the supply of these devices stalled. Demand for pre-owned devices in good working order and condition increased, which subsequently resulted in an increase in the prices of these devices. As factories and repair facilities gradually re-open, the secondary market is starting to normalize, and the value of pre-owned devices remains strong. The revenue streams emanating from equipment sales and associated device trade-in programs remain significant for operators, OEMs and retailers, helping them drive revenue and bring additional value to their customers, while the mobile industry tries to recover from this unprecedented and devastating pandemic.”

HYLA’s Q1 2020 trade-in trends infographic is available to download here: https://contacts.hylamobile.com/mobile-trade-in-industry-trends-q1-2020



More information:
http://www.realwire.com/releases/Pre-owned-device-values-stay-strong-amidst-Coronavirus-pandemic



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Date: 04/29/2020 - 15:14
Language: English
News-ID 1557747
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