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Buying, Selling Old Model iPhones Still Popular | PhoneRenew Google+

Buying, Selling Old Model iPhones Still Popular

Written by on May 3, 2013 in iPhone - 1 Comment

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Buzz and excitement over the up-coming iPhone always seems to drive up Apple’s popularity and prestige. Yet, sales of older-model iPhones, like the iPhone 4, are still brisk — as are sales of used iPhones.

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The performance of the current iPhone 5 in the smartphone marketplace has been a bit of a contentious issue. Since its launch in 2012, analysts have sensed that the iPhone 5, while still the single best-performing smartphone in the sector, hasn’t turned out to be quite the juggernaut that everyone assumed — especially in light of the two-year layover waiting for it to arrive.

Perhaps even more surprising is the fact that older iPhone models, such as the iPhone 4, continue to sell briskly — even though the iPhone 4 was released in 2010 and is considered a “legacy” device. According to Mobile Burn:

Verizon’s earnings report released earlier today revealed that it sold 4 million Apple iPhones in the first quarter of 2013, and only half of those sales were for LTE-capable devices. That means millions of customers still purchased the iPhone 4 and iPhone 4S . . . About 2 million pre-iPhone 5 units were sold at Verizon in the first quarter. A power user might wonder why someone would purchase the older iPhone models considering that the iPhone 4S was released 18 months ago and the iPhone 4 is approaching its third birthday in June.”

There’s no one answer to this question of why consumers are still choosing the iPhone 4 and 4S equally with the iPhone 5. For one, the economies in the developed world continue to sag: unemployment, inflation, and the lack of disposable income make the iPhone 4 and its $0.00 price tag with a new contract quite attractive, considering that it is a solid, proven smartphone. Similarly, the 4S has managed to shake off its early criticisms, and gives users access to Siri.

Buying new legacy iPhones is not the only en vogue consumer trend right now, either. Selling old iPhones for cash has also fast become an industry within the industry.

The tech media noted that last month’s launch of the Samsung Galaxy S4 led to one of the most sizable spikes of iPhone and GS3 trade-ins ever seen in the sector before. What appears to be happening is a new life-cycle to owning a smartphone, where users are leveraging the money they can get for a trade-in of their older smartphone as a way to defray the cost of buying a brand-new one. This approach could dramatically change the landscape of sale trends for new, premium smartphone launches, with an increased number of “early adopters,” who no longer have to wait to to onboard to the latest, coolest smartphone.

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