Samuel Axon
As spotted by MacRumors on Wednesday, Apple cut iPhone trade-in prices by up to $80, with the biggest cuts being the iPhone 13 Pro Max ($570 versus $650 trade-in price) and the iPhone 13 Pro ($470). vs $550).
Also, many base models (iPhone 7, 8, X, and 11) and some of their sibling releases (iPhone 8 Plus, iPhone XR, XS, and XS Max) have the same trade-in value, but 20 of iPhones remain unchanged. Trade-in prices are now down. According to MacRumors, trade-in value has also decreased for most Android phones.
Apple lowered its trade-in price in November and has been doing so for years without explaining why. Devices losing value could be a factor, and the recent change in Apple’s trade-in price shows that smartphone sales are continuing their worst year yet. According to market research firm IDC, sales will decline 11.3% from 2021 to 2022. This year saw the lowest number of phones shipped since 2013 (1.21 billion), with Apple down 4% of his (226.4 million vs. 235.8 million).
The used phone market has become attractive to both buyers and sellers. Earlier this month, IDC predicted that pre-owned smartphones, including “officially refurbished,” would grow at a CAGR of 10.3% from 2021 to 2026. According to reports, 74% of his used smartphone shipments in 2022 occurred outside of North America.
Many tech companies are figuring out how to convince people to buy new gadgets after being bombarded with upgrades during the COVID-19 pandemic. According to IDC, in the US, where trade-ins and refurbished phones are nothing new, “trade-ins continue to play an important role in speeding up refresh cycles.”
Smartphone upgrades are often becoming less and less attractive, so increasing your trade-in value can help convince people that upgrading is worth it. Apple also says its trade-in program helps with recycling.
But while Apple lowered the trade-in price of some phones, the trade-in price of four Macs increased, while the trade-in price of the other three remained unchanged. In the $40 increase ($670 vs. $630), the MacBook Pro had the highest gain.
Apple also lowered trade-in prices for the Apple Watch SE ($65 vs. $70) and Series 5 ($75 vs. $80), while the Series 7 is $5 higher than before ($160 vs. $155).
