Trade-in Programs Returned $1 Billion to US Households

Consumers received record payouts in late 2024 as the secondary market for older smartphones continued to expand.

Updated on Oct. 3, 2026 in Consumer Electronics

Bold vector editorial illustration of a stylized handheld device from the back, representing the secondary smartphone market. — US consumers received $1.09 billion from smartphone trade-in programs in the third quarter of 2024 as device ownership periods continue to lengthen. AI Illustration. Upload story photo >

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Trade-in programs successfully returned $1.09 billion to United States consumers during the third quarter of 2024. This trend follows data showing that users are holding onto their devices for nearly four years before seeking an upgrade.

Why it matters

The shift toward longer device ownership is driven by diminishing hardware improvements between annual phone generations. Meanwhile, strong international demand for certified pre-owned handsets in regions like Southeast Asia and Latin America provides a consistent outlet for these older devices.

Trade-in kiosks can perform automated diagnostics, including battery health and cellular band checks, in just sixty seconds. Furthermore, major carriers often provide price guarantees valid for thirty days when customers initiate an upgrade.

The players

Assurant

Based in Atlanta, this company manages large-scale mobile trade-in programs for major wireless operators.

The details

Online platforms are incentivizing participation by offering ten to fifteen dollars more than in-store options for devices in good condition. As of 2025, the average age of traded-in iPhones reached 3.80 years, while Android devices averaged 3.96 years.

During Q3 2024, trade-in programs returned $1.09 billion to consumers.
Throughout 2025, the average age of traded-in mobile devices reached nearly four years.

The Tech Race

This trend marks a shift in the mobile industry where manufacturer-led trade-in programs now act as the primary engine for the global secondary market. These initiatives are effectively replacing informal resale methods by streamlining the diagnostic and valuation process for aging hardware.

Consumers can leverage trade-in credits of $800 or more when upgrading to new flagship devices. To maximize returns, users should compare online platforms, which often pay more than physical retail kiosks for devices in good condition.

The takeaway

Holding onto a device for nearly four years is becoming the standard as minor incremental hardware updates reduce the need for annual replacements. Consumers should consider the secondary market value of their current phone before choosing to discard it.