An extra $110 million returned to US shoppers by means of trade-ins than in 2017, regardless of shoppers holding onto units for longer31st January 2019 – HYLA Cell, the world’s main supplier of software program know-how and providers for cellular machine trade-in and reuse options, at this time reveals that cellular machine trade-in packages efficiently returned greater than $2.26 billion to US shoppers in 2018. With trade-in packages delivering a further $110 million to shoppers than in 2017, HYLA’s knowledge reveals the rising reputation of trade-in packages, with shoppers, carriers, retailers and OEMs all realizing the latent worth in units. HYLA’s Commerce-In Business Tendencies 2018 Annual Abstract combines dwell market knowledge with knowledge from its personal analytics options, which helps carriers and OEMs decide trade-in values to be provided to shoppers, in addition to the disposition costs for these units within the secondary market. Due to its management place out there, HYLA is ready to supply distinctive perception into the trade-in market within the US. Key findings from the report reveal that:Customers holding onto their units is a pattern that continues; the common age of a smartphone at trade-in in 2018 was 2.77 years, an increase from 2.59 years in 2017 and a couple of.38 years in 2016 The typical worth of an iPhone at trade-in in 2018 was $157.57, whereas an Android was $62.05. The typical worth of an iPhone at trade-in has elevated from $149.11 in 2017 and $142.55 in 2016The Galaxy S7 was the highest traded Samsung machine in each quarter of 2018 For the third yr in a row, the iPhone 6 was the highest traded machine. Out of the 5 prime traded units, it made up 30.52% of machine trade-insThe machine with the very best trade-in worth in 2018 was the iPhone XS Max at $586.58. Customers holding onto their smartphones for longer was a pattern that continued in 2018, however trade-in packages have helped spur cellular machine upgrades. Because it stands although, solely a small portion of US shoppers trade-in their cellular units once they improve. Customers that do benefit from these packages and trade-in their previous machine are getting extra money put again into their pockets, which can be utilized to offset the price of a brand new machine, or to go in the direction of shopping for equipment, knowledge plans or different choices.“The smartphone market is at present in a state of flux, and our knowledge exhibits that regardless of shoppers holding onto their units for longer, trade-in packages are gaining traction. However that is solely the tip of the iceberg, and extra will be executed to spice up trade-in packages,” mentioned Biju Nair, President & CEO of HYLA Cell. “Greater than ever earlier than, trade-in packages are an essential device to assist stimulate upgrades and allow new smartphones to be extra inexpensive for shoppers. With solely a small portion of the market really buying and selling in units, carriers, OEMs and retailers ought to do extra to advertise and encourage the trade-in as part of the conventional machine buy course of.” However whereas the market is seeing costs of recent units rising, fashions are additionally shedding their worth shortly. The iPhone XS Max for instance, had the very best trade-in worth in 2018 at $586.58, whereas on the identical time the smartphone had misplaced 59.52% of its retail worth since its launch in September. The Google Pixel 2 was launched in 2017 and misplaced half of its trade-in worth in 2018. The iPhone eight however, which was launched in the identical yr, solely misplaced 28% of its worth in 2018. “That is all of the extra motive for shoppers to trade-in their units on the time of improve, relatively than grasp on to a depreciating mannequin,” added Nair. “The retail worth of recent high-end units shouldn’t be reducing, so acquiring the next trade-in worth helps subsidize the value of the brand new buy. Commerce-ins have confirmed to be the perfect antidote for a slowing machine gross sales cycle.”HYLA Cell’s Cell Commerce-In Business Tendencies 2018 Annual Abstract is offered to obtain right here: http://contacts.hylamobile.com/mobile-trade-in-industry-trends-2018-annualAbout HYLA MobileHYLA, Inc. (“HYLA Cell”) is likely one of the world’s main suppliers of cellular machine trade-in and reuse options, backed by Enterprise Capital corporations Kleiner, Perkins, Caufield & Byers, Silver Lake, OpenAir Fairness Companions, RRE Ventures, SJF and NGEN. Since its founding in 2009, HYLA has labored to develop know-how and options that reach the lifecycle of cellular units to construct financial alternative and allow data entry for brand new customers, whereas serving to to guard our planet. HYLA’s management in selling Round Financial system was just lately acknowledged by the World Financial Discussion board by naming HYLA as a finalist for the distinguished Circulars Award. HYLA companions with main wi-fi carriers, retailers, OEMs, insurers, and on-line manufacturers to offer lifecycle administration for used cellular units. HYLA extends the life of those units to shoppers around the globe, offering entry to inexpensive, high-quality wi-fi know-how in developed and rising markets.The secondary cellular machine market is estimated to develop to $38.9 billion in 20125, up from $19.7 billion in 2017, making it one of many quickest rising segments within the cellular house. HYLA has accomplished greater than 53 million cellular machine trade-ins since its founding in 2009. To be taught extra about how HYLA Cell is altering the way in which individuals take into consideration used cellular units, go to www.HYLAMobile.com.Press contactCCgroup PRNicole [email protected]+44 (0)203 824 9200