HYLA Mobile, a global provider of software technology and services for mobile device trade-in and reuse solutions, has announced that it is launching a new trade-in program in all of U.S. Cellular’s stores.
HYLA will run the program end-to-end on behalf of the fifth largest carrier in the U.S. The program will use HYLA’s technology, analytics and logistics solutions, to ensure U.S. Cellular’s customers receive the best possible trade-in values for their pre-owned mobile devices.
U.S. Cellular will use the trade-in program as a strategy to stimulate upgrades to new smartphones. Customers who trade-in their old smartphone will get money back, which can be used to subsidize the purchase of a new smartphone.
The trade-in value can also be applied towards accessories and other store purchases. HYLA’s analytics technology will enable U.S. Cellular to recover the latent value in devices at the optimum time, providing the customer with the best trade-in price. Using its industry leading Analytics and Asset Value Recovery systems, HYLA will help U.S. Cellular repurpose these devices to find other viable uses for them including re-use in secondary markets.
Last year, HYLA’s own data found that trade-in programs returned over $2.2bn to U.S. consumers, highlighting the growing popularity of trade-in programs. Such programs allow consumers, carriers, retailers and OEMs to capitalize on the latent value of pre-owned devices. Trade-in programs encourage environmentally sustainable practices, so consumers can trade-in their old phones and contribute to a healthy planet.
“We are pleased to be working with HYLA Mobile for our mobile device trade-in program,” said Jay Spenchian, U.S. Cellular senior vice president, marketing. “This program provides our customers with an enhanced phone trade-in experience and they receive credit in exchange for their old smartphone. Customers may use the credit for a new model smartphone. We strive to deliver the best service for our customers and ensure they have the latest technology.”
“We are excited to be working with U.S. Cellular on its new trade-in program for customers,” said Biju Nair, President and CEO, HYLA Mobile. “In today’s market, consumers are holding onto their devices for longer – on average just under three years. This means that operators, like U.S. Cellular, need to find new offerings that can encourage its customers to upgrade to a new device. Trade-in programs offer a great mechanism to incentivize individuals to not only buy a new device, but also additional products and services such as accessories and device insurance. These programs are an important tool for operators to retain customers, improve their NPS, and increase revenues.”