Nearly 70% of US Smartphone Owners Have Never Sold Their Old Phones. Here’s Why

Key takeaways:

• Nearly 70% of American smartphone owners said they’ve never sold a phone they longer need.

• More than three in four US (77%) smartphone owners say resale value was either not influential in their purchase decision or was given zero consideration. 

• Nearly one in five (18%) are not confident in the resale value of their smartphones. 

With retailers offering enticing promotions, smartphones may be high on wish lists this holiday season. While the allure of a shiny new phone can be tempting, one key consideration often overlooked — especially during the holiday rush — is the resale value of your old device.

A CNET survey in partnership with YouGov shows that resale value isn’t a top consideration among Americans when buying a new phone. In fact, more than three in four (77%) smartphone owners in the United States said resale value was either not influential in their purchase decision or was given zero consideration. Less than one in four survey respondents (23%) consider resale value when buying a phone, according to CNET’s survey. This finding highlights a diverse range of priorities among consumers, suggesting that the importance of resale value varies widely depending on individual needs and circumstances. 

Read More: Thinking About a New Phone for the Holidays? Why Its Resale Value Should Be Top-of-Mind

CNET’s report arrives just in time for the holiday season, the time of year when Americans typically spend the most, splurging on gifts and other holiday essentials. CNET surveyed 2,400 US smartphone owners above 18 years old, across ages and demographics for this report. 

The survey results raise questions on whether consumers are leaving money on the table, especially considering the importance of trade-in deals during the phone-buying process in the US, as well as the growing secondhand smartphone market. 

The market for refurbished and used mobile phones in the US was estimated at $8.67 billion in 2023, and it’s forecast to triple to $26.67 billion by the end of 2031, according to Zion Market Research. The iPhone’s strong reputation for retaining value makes it a go-to choice for shoppers looking to maximize their investment. However, resale value depends on factors like condition, age, timing, and brand.

CNET’s findings suggest that concerns about privacy and a lack of clarity about the resale process are key factors for many. This highlights the need for better education and stronger protections around digital privacy

Smartphone resales: Why do people hold onto their old smartphones?

The holiday season is not only a great time to buy; it also could be a smart time to sell. Yet CNET’s survey, conducted in November, found that nearly 70% of American smartphone owners said they’ve never sold a phone they no longer needed, whether through a trade-in deal or otherwise. 

The reasons consumers provided for not selling old phones varied, but the results indicate that most respondents either don’t want to make the effort, had no leads on where to resell or are worried about privacy. Of those who haven’t sold their devices, 33% said they don’t believe the resale price they’d fetch is worth the effort. Others cited concerns about their private data when it comes to selling their smartphone, with 31% worried about private data remaining on the device. Plus, 26% of respondents in CNET’s survey said they’re concerned about the process of completely removing their data from their device.

Beyond getting extra cash, selling used smartphones can give old devices a new lease on life. Used smartphones are one of the biggest contributors to global electronic waste, with a 2024 UN report estimating 62 million metric tons of mobile phones and devices were discarded in just one year — a figure that’s estimated to increase by 33% by 2030. 

Yet, consumer concerns about privacy are very real, and it’s easy to understand why. More than 1,500 data breaches have already occurred in the first half of 2024, including prominent ones at AT&T and Ticketmaster. These breaches are estimated to impact about one billion people, according to the Identity Theft Resource Center. 

Phone-makers like Apple and Samsung are aware of these worries and have recently rolled out privacy updates to their devices. Through Android 15, Android devices recently received an upgraded factory reset feature that doesn’t permit unauthorized users to restart a phone without knowing the device’s credentials. With Apple’s latest iOS 18 update, supported iPhones received a privacy boost, including the ability to lock and hide certain apps using FaceID or a password, among other security-boosting features. 

Despite these efforts, it seems data privacy is still holding back most smartphone owners from selling their devices.

Consumer confidence in resale value: Is your old phone worth more than you think?

Consumer confidence often plays an influential role in determining whether someone will try to resell their old device. Nearly one in five (18%) smartphone owners were not confident in the resale value of their devices. Surprisingly, LG owners reported the highest confidence in resale, with 49% expressing confidence — a percentage that surpasses Apple (42%), Samsung (34%) and Motorola (32%), according to CNET’s survey. LG released its last smartphone model in the US, the Velvet, back in 2022 after exiting the smartphone business in 2021.

This level of consumer confidence also varied across demographics with younger generations, such as Gen Z and millennials, which reported higher confidence levels on the resale value of their smartphones than their older boomer and Gen X counterparts. 47% of Gen Z smartphone owners and 43% of millennials reported confidence in the resale value of their devices, with the percentage dropping to 34% for Gen X and 23% for boomers — the oldest generation of the pack. In fact, a majority of the latter two generations have never considered the resale value of their phones, or 50% of Gen X and 59% of boomers. And nearly half the respondents (47%) gave resale value zero consideration.

Overall, the results reveal that most smartphone owners in the US avoid selling unused phones, primarily due to concerns that the effort won’t be worth the time or money, along with worries about data privacy. Perhaps that’s also why the majority of those same owners don’t consider resale value when purchasing a new smartphone either.

Methodology

All figures, unless otherwise stated, are from YouGov Plc. Total sample size was 2,518 adults, of which 2,400 owned a smartphone. The survey was conducted online from Nov. 4 to Nov. 6, 2024. The figures have been weighted and are representative of all US adults (aged 18+).

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