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Customers are ready longer to commerce in previous telephones, however rising values meant that 2021 noticed the very best amount of cash Assurant has ever recorded going again to customers, in keeping with an annual report.
Assurant is a publicly traded insurance coverage and guarantee firm that in 2020 purchased reverse logistics firm Hyla Cellular for $325 million. Assurant’s annual telephone trade-in report covers enterprise actions by Hyla, which runs shopper telephone trade-in applications for retailers, model homeowners and wi-fi carriers.
The report for 2021 discovered that, for one more 12 months, the common age of gadgets traded-in elevated. Apple iPhones are averaging 3.35 years, up from 3.27 years in 2020, and Android smartphones common 2.97 years, a rise from 2.79 years in 2020.
A press launch famous that “outdoors of the annual tendencies simply famous, we did see a dip within the common age of gadgets at flip in throughout 4Q, as we usually do within the closing quarter of the 12 months.”
The common age of traded-in iPhones decreased from 3.39 years within the third quarter to three.36 years within the fourth, whereas Android smartphones decreased from 3.08 years to 2.96 years. Apple tends to launch new iPhone variations in mid-September.
The press launch stated the info “replicate the good surge of exercise we’ve got witnessed this 12 months throughout the cellular trade-in and improve applications.”
Within the fourth quarter, the report discovered, about $1 billion went to U.S. clients by means of trade-in and buyback applications, which is a $298 million improve from the earlier quarter. It’s the very best quantity Assurant’s seen for a single quarter, the press launch stated.
General, 2021 additionally marked the very best annual numbers, as $3 billion went again to clients through trade-in and buy-back promotions.
That’s partially as a result of the common trade-in values rose in 2021. In 2020, the common trade-in worth of an iPhone was $169.85. In 2021, it jumped 17% to $199.13. The common trade-in worth for an Android smartphone in 2021 was $98.31, which was solely $3 greater than the earlier 12 months.
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