Demand for replacement devices that have failed or need replacing is currently driving CE and appliance sales and in the TV market it’s the need to step up a size.
With some consumer the need for a new smartphone, has seen them turn to the second hand market, with refurbished models now proving popular according to new research from Counterpoint ,who claim that Apple dominated refurbished smartphone sales in 2024 with 56% of the market.
This is a market that grew 5% last year.
At the likes of JB Hi Fi and Harvey Norman trade in devices are proving to be popular and this is fuelling supply in the refurbished market.
According to Counterpoint the second hand market is growing faster than the new phone market, which only managed 3% growth last year.
In Australia Apple is still the most popular refurbished device followed by Samsung premium smartphones.
There are multiple factors at play in driving the cost of a refurbished device down claims researchers.
Inflation and the rising costs of goods have resulted in more frugal spending for many families, but another aspect to examine is what new phones offer today.
The iPhone 16 lineup introduced many new features, but its overall performance isn’t much greater than the iPhone 11 Pro Max claim observers.
This has been said of the new Samsung Galaxy S25 range which ChannelNews cannot agree with.
Samsung Galaxy A55 5G 128GB (Awesome Navy).
As a result, consumers are holding onto their original devices longer especially as they are a lot more durable than past models and are able to survive a standard two-year period without cracking a display, which is a common reason to upgrade.
The only risk to using an older model device for an extended period is that security support will eventually end.
Apple is notable for providing extended support for its phones, with many devices remaining viable five to seven years after they are no longer for sale.
The Verge claims that Android devices tend to receive only two to three years of updates, although Google has raised the bar with the Pixel line and offers up to seven years of support.
Qualcomm recently announced a program that would allow manufacturers to offer up to eight consecutive years of Android updates, allowing the non-iPhone market to offer longer support windows. However, it’s up to the manufacturers how long support lasts.
