### The Pre-Owned iPhone Market is More Robust Than Ever
A recent analysis by CIRP shows that almost half of iPhone purchasers (49%) over the last year have either traded in or sold their prior device. This represents a notable rise from 43% in 2020, showcasing a developing trend among users to part with their old phones. The surge in trade-ins can be linked to improved deals from carriers seeking to retain current customers and lure new ones, in addition to the evolution of third-party resale platforms that offer users greater opportunities to extract value from their past devices.
Conversely, 37% of users chose to keep their old phones, either as spare devices or to pass them along to friends or family. This number has diminished from 44% in 2020, indicating a transformation in consumer behavior towards appreciating older devices as tradable items instead of simply backups. Moreover, 14% of old phones were reported as lost, stolen, or damaged, which has remained relatively stable compared to 13% in 2020.
The results underscore a wider market trend where consumers are increasingly acknowledging the worth of their older devices, particularly in areas where iPhones have traditionally been costly in comparison to local incomes. As iPhone prices keep climbing in the U.S., more buyers are starting to perceive their older devices as valuable, tradable items rather than objects to be discarded or put away.
In summary, the pre-owned iPhone market is flourishing, with a significant uptick in trade-ins and sales, reflecting a change in consumer perceptions towards older devices.
