iPhones Make Up Half Of Global Refurbished Smartphone Market
Apple and Samsung devices make up three-quarter of the global refurbished smartphone market, a sector that is growing in the face of a global decline in new smartphone shipments.
Apple iPhones make up 49 per cent of the market, with Samsung devices making up 26 per cent of re-sales.
The entire refurbished smartphone market grew by 5 per cent, compared to an 11.3 per cent decline in new smartphone shipments.
This is according to new research from IDC, who note the global figure was suppressed by China’s 17 per cent drop in refurbished smartphones, due to the continued COVID-zero policy disrupting the overall market in that region.
Apple’s global volumes grew 16 per cent year-on-year in 2022, making it the fastest-growing brand in the used and refurbished sectors globally.
Counterpoint notes this secondary market demand is impacting new iPhone sales and service revenues in many markets.
“Large players within the secondary market ecosystem fared better than small players because the large players got better supply in a supply-constrained year,” explains Research Director Jeff Fieldhack.
“Global carriers and their partners are collecting higher volumes, gaining more power in the secondary market. The other key dynamic of certified pre-owned volumes (CPO) declined in 2022.
“Counterpoint’s research shows that consumers prefer a lower cost even if they have to deal with slightly more imperfection in the device. On the handset OEM side, outside of Apple, it is very difficult to make the economics work on reselling CPO-grade devices.”