2018 was an eventful year for the global smartphone market. We saw the usual flurry of new devices from the likes of Apple, Google and Samsung; we saw rumors and news stories about 5G devices, and we saw players such as Huawei, Xiaomi and OnePlus shake up the market, addressing consumer demands for lower priced devices, with more innovation.

For three years now, we’ve collected and analyzed data about the mobile device trade-in market. Each quarter, we publish our findings on the top traded devices, devices with the highest trade-in values, average ages of returned devices, money returned to consumers through trade-in programs, and more.

Today, telecom operators aren’t just connectivity providers—the advent of quad play services means that along with internet access and wireless services, they’re also providing TV and mobile phone offerings.

The average consumer will keep a smartphone for nearly 3 years before upgrading to a new device. But that still means that you’re investing hundreds of (or even more than a thousand) dollars in new devices every few years. Even with lease programs and equipment installment plans, that’s a significant cost.

Five or ten years ago, the thought that employees would use their personal iPhones and Android devices for work was enough to terrify business leaders. And yet, the rise of bring your own device (BYOD) policies was inevitable.

The point of mobile device upgrade is an exciting time for a consumer. It means no longer having to put up with an old smartphone that is slow, has a battery life of about three hours, and displays the dreaded ‘storage full’ message every time they go to take a picture, or download a song.

Even though we spend hundreds (or, eventually, thousands) of dollars on smartphones, we inevitably replace them two to four years later.

What’s the first thing you think about when you’re trading in a mobile device? For most consumers, it’s the trade-in value. And with over $400 million returning to consumer hands each quarter, it’s understandable to focus on getting the most money possible for your old device.

HYLA Mobile began investing in the secondary device market in 2009. And almost a decade later, the market has become a multi-billion-dollar industry that continues to grow year on year. In fact, research from Counterpoint has shown that the fastest growing global smartphone market last year was for refurbished smartphones, which grew by 13%. 

The shift from subsidy models to equipment installment plans (EIP) was a rocky one for consumers (at least in terms of public perception of high-priced phones).