More people bought used iPhones in 2022, causing the Apple refurbished market to grow by 16 per cent year-on-year.
The data insight firm stated that Samsung’s share of the second-hand phone market decreased to 26 per cent in 2022 from 28 per cent in 2021 as a small percentage of Android consumers in the market favoured iOS more in 2022. It noted that this trend was likely to continue in 2023.
Commenting on the growth of the market, Senior Analyst at Counterpoint, Glen Cardoza said, “The global refurbished markets are going through transitions. “Supply remains constrained as consumers are holding on to smartphones for longer. At the same time, demand for 5G is increasing, especially in mature markets like the US, Europe, and Japan. In 2022, 5G made up 13 per cent of global refurbished sales.
“The business potential of dealing in refurbished smartphones remains high, but the limited supply is affecting most emerging markets like LATAM, Southeast Asia, India, and Africa. Imports from mature markets like the US, Europe and Japan have reduced as they have to cater to their own demand.” The firm noted that the increasing average selling price of smartphones is pushing consumers to hold onto their devices longer, which would hurt the secondary device market. It added that a lot of the changes in the secondary markets in 2022 would spill into 2023 with 5G smartphone share increasing substantially and 4G smartphones losing their value at a faster rate in 2023.All rights reserved.
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