EXCLUSIVE INTERVIEW: Device owners are increasingly aware of the value of old handsets when it comes to upgrade time, making it essential for operators and retailers to meet their needs, according to Biju Nair, CEO of device trade-in company Hyla Mobile.
“On the eve of Apple’s big announcement, there was a huge half-page article in USA Today that essentially talked about how to get value for your old iPhone. You know, if you go back two years ago you never heard of anybody talking about that as big news, the big news is the phone in itself,” he said.
With devices becoming more expensive – Apple’s $1,000 iPhone X being a prime example – buyers are looking to get the most for their old handsets: “If you’re getting $200 to $300, and you’re trying to buy a $700 to $1,000 device, it makes a big difference,” Nair continued.
For operators and retailers, upgrading customers create more foot traffic into stores and “if you’re not offering a value for their existing device and you’re not enabling that transfer to be very easy, they’ll go someplace else to find that value”.
To watch the full interview, which also details the demand drivers for recycled and refurbished devices, click below.