A recent survey uncovers some surprising insights about people’s confidence in smartphone resale values. Surprisingly, Google Pixel owners are more confident about their phones’ resale value than iPhone and Samsung users.
The study, conducted by CNET, shed light on various aspects of consumer behavior and perceptions in the smartphone resale market. Google Pixel owners reported the highest confidence in resale value, surpassing both Apple and Samsung users.
LG owners, interestingly, showed the highest overall confidence at 49% despite the company’s exit from the smartphone market in 2021.
Apple users expressed 42% confidence, while Samsung and Motorola users reported 34% and 32% respectively.
Younger generations (Gen Z and Millennials) showed higher confidence in their smartphones’ resale value. 47% of Gen Z and 43% of Millennial smartphone owners reported confidence in resale value.
Older generations displayed less confidence, with only 34% of Gen X and 23% of Elders expressing confidence. A majority of older users (50% of Gen X and 59% of Elders) have never considered their phones’ resale value.
All these numbers add up to the fact that 70% of Americans don’t sell their older iPhones.
The U.S. refurbished and used mobile phone market was valued at $8.67 billion in 2023. Projections indicate it could reach $26.67 billion by 2031.