What Happens to Old iPhones?
When consumers buy a new iPhone, they have a wide range of options for disposing of their current mobile phone. Apple, mobile carriers, and other retailers have made it very easy for buyers to extract value from a functioning phone - and sometimes a non-functioning phone.
These days, most iPhone buyers trade-in their previous iPhone, while a surprising percentage hold on to it. A surprisingly low percentage sell their old iPhone on their own.
Among consumers that bought a new iPhone in 2022, 43% traded in their previous iPhone (Chart 1). Another 7% sold to a third-party, so half of consumers were compensated for the value for their retired iPhone.
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