Customers Keeping Phones Longer Than Ever: Assurant

Consumers are waiting longer than ever to trade in their mobile devices -- “an all-time high of 3.7 years,” said Assurant, which tracks consumer trade-ins. Devices are also worth more, $141.02 in Q2, compared with $110.87 a year earlier. Android devices saw a “notable” 37% increase in value, while Apple devices were up 20%, Assurant said. “The number one device turned in from trade-in and upgrade programs, and the only 4G model, was the iPhone 11, accounting for 31% of the top five models,” the Tuesday report said: “For the fifth consecutive quarter, the number one Android device turned in … was the Samsung Galaxy S21.” Apple customers held their devices for an average of 3.8 years, Android 3.5.