The iPhone is the quickest-rising model in the global secondary smartphone market
In 2022, as in 2021, Apple and Samsung had been the prime two smartphone manufacturers in the refurbished smartphone market
Curiously, Counterpoint says that the demand for refurbished smartphones is coming from new smartphone consumers in mature markets and from function phone customers switching to smartphones in rising markets. Provides of refurbished smartphones are more and more coming from specialised retailers specializing in the gross sales of these units. But additionally concerned today are some carriers and phone producers who are actually providing refurbished telephones on the market.
The Common Promoting Value (ASP) of smartphones in the secondary market picked up final yr as a bigger share of gross sales in this market consisted of refurbished flagship and premium fashions. The ASP of new smartphones has been going up which has led customers to carry on to their new telephones for longer durations of time which has led to a scarcity of telephones to promote in the secondary market.
Over the previous couple of years, gross sales of refurbished smartphones have outperformed gross sales of refurbished fashions. In 2019, gross sales of new telephones declined 2% in comparison with a 1% decline for refurbished smartphones. The subsequent yr, new phone gross sales declined by 12% whereas gross sales of refurbished fashions rose 5%. Each new and refurbished handsets had gross sales positive factors in 2021 of 5% and 14% respectively. Final yr was a return to 2020’s numbers with new gross sales down 12% and refurbished gross sales up 5%.
5G telephones made up 13% of the secondary market final yr and is predicted to rise this yr
As for 5G, Counterpoint Senior Analyst Glen Cardoza stated, “…demand for 5G is rising, particularly in mature markets like the US, Europe, and Japan. In 2022, 5G made up 13% of global refurbished gross sales.” This yr, Counterpoint forecasts 5G telephones to seize a bigger portion of the secondary smartphone market and as a consequence, 4G telephones may lose extra of their worth at a sooner fee.