May 18, 2024
Refurbished iPhone Sales Grew 16% Last Year [Report]

Refurbished iPhone Sales Grew 16% Last Year [Report]

Posted April 24, 2023 at 1:58pm by iClarified
The global secondary smartphone market grew 5% YoY in 2022, according to a new report from Counterpoint Research. If not for a 17% drop in China's refurbished smartphone sales, due to COVID-Zero policies, global growth would have been more significant.

Apple grew global refurbished sales by 16% in 2022, increasing its secondary market share to over 49%. Samsung's share decreased to 26% in 2022 from 28% in 2021.

Apple is the fastest-growing brand in the used and refurbished sectors globally. This secondary market demand is affecting new iPhone sales and service revenues in many markets. Apple is a major contributor to the increasing refurbished share as compared to the new smartphone shipments in main markets. The supply crunch is mainly felt for iPhones in refurbished markets.


Counterpoint notes that within the secondary market, there was a small percentage shift of Android consumers to iOS in 2022, which affected Samsung refurbished sales. This trend will likely continue in 2023.

Refurbished iPhone Sales Grew 16% Last Year [Report]

Commenting on the growth in refurbished volumes, Senior Analyst 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% 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. We are looking at a transition where most markets are growing their own repair and refurbishment ecosystems domestically. This is changing the trade routes and reducing China's imports and exports. Domestic players everywhere are focusing on expansion, partnerships and additional supply avenues."

Commenting on the carrier and retailer dynamics in mature markets, Research Director Jeff Fieldhack said, "Large players within the secondary market ecosystem fared better than small players because the large players got better supply in a supply-constrained year. 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."


Counterpoint believes the increased trade-ins and shift towards premium smartphones may bring about a situation where the inventory of low-grade used smartphones may grow significantly.

More details in the full report linked below...

Read More


Refurbished iPhone Sales Grew 16% Last Year [Report]
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