Assurant Trade-In Data Shows iPhones Past Four Years Old as Q2 Payouts Hit $1.43 Billion

Insider Monkey··US·Read original
2▲1 ▼0Impact / 5
Summary · why it matters

Assurant released data on August 27 showing that mobile trade-in programs returned $1.43 billion to US consumers in the second quarter of 2026, with the average iPhone turned in through those programs passing its fourth birthday for the first time. The iPhone 13 was the most common trade-in and the Galaxy S23 Ultra led Android models, while the Apple Ultra 3 smartwatch fetched an average of $341 in trade-in value during the quarter. Assurant works with wireless carriers, retailers and manufacturers to repair, sort and resell used devices, and on August 4 it reported that Global Lifestyle, the segment housing its device work, grew adjusted EBITDA 21% in the second quarter, while Connected Living rose 29%, or 22% excluding a $10 million benefit outside its normal run rate. Management raised its full-year outlook and now guides Global Lifestyle earnings up by a low double-digit percentage, and expects to buy back shares toward the top of a $300 million to $350 million range. The company noted that the $1.43 billion is what consumers received for their old gadgets rather than revenue on Assurant's income statement, and that Global Housing profit rose 28% partly on lighter catastrophe losses of $12.2 million versus $29.8 million a year earlier.

Impact on assets 5

Artificial Intelligence▲
Apple Inc.
AAPL
± MixedDemandrelevance

iPhone 13 was the most common trade-in and the Apple Ultra 3 smartwatch averaged $341 in trade-in value, indicating continued Apple device usage but no direct company-specific development.

Financials▲
Assurant, Inc.
AIZ
▲ PositiveCapitalrelevance

Assurant reported Global Lifestyle adjusted EBITDA up 21%, Connected Living up 29%, raised its full-year outlook, and expects buybacks toward the top of a $300M-$350M range.