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Apple’s refurbished iPhone sales to grow 16% YoY in 2022

Counterpoint Research’s latest data shows that Apple’s iPhone refurbished business has experienced significant growth, and its sales will increase by 16% in 2022, thereby increasing its share of the “used smartphone” market to nearly 10%. 50%.

Counterpoint Research analysts said this would make Apple the “fastest-growing brand” in the global used and refurbished smartphone market. For Apple, the effect is twofold: On the one hand, users reduce the demand for brand-new iPhones, but at the same time, they increase the demand for various different subscription services.

Analysts pointed out that the global second-hand smartphone market will grow by 5% year-on-year in 2022, of which China’s refurbished smartphone sales will drop by 17%, which is the largest decline in China’s second-hand market in many years.

On a regional basis, India will lead the global market with a growth rate of 19% in 2022, followed by Latin America at 18% year-on-year.


Image source Pexels

In terms of brand, Apple’s share of the refurbished smartphone market will rise from 44% in 2021 to 49% in 2022. Samsung’s market share fell from 28% to 26%, and Huawei’s fell from 4% to 2%. Other smartphone makers were underwhelming, including OPPO and Vivo.

According to Counterpoint, there are three main sources of demand for refurbished smartphones:

 New Smartphone Buyers (Mature Markets)

 Feature Phone Users Migrate to Smartphones (Emerging Markets)

 Second-hand trading channels relying on C2C

The supply of refurbished smartphones comes mainly from three sources:

 Refurbished Phone Retailer (Fastest Growing)

 Operators have started offering refurbishment services, but mainly for mature markets.

 OEMs are working hard to recycle and refurbish smartphones.

Compared with previous years, a larger proportion of consumers chose to buy high-end and flagship refurbished phones, which pushed up the average price in the second-hand market.

According to Counterpoint Research, one-third of iPhones sold in China in 2022 will be the iPhone 13, with Apple contributing more than 10% of smartphone sales in 2022.

Of course, Apple does not provide refurbished iPhones in the Greater China region. Although domestic users recognize the value preservation rate of iPhones, they only buy them through various second-hand trading platforms.

Judging from Apple’s US official website, the refurbished iPhone models in the official store include four models of the iPhone 13 series, four models of the iPhone 12 series, and the iPhone 11. However, the only model currently in stock is the iPhone 12 Pro Max, priced at $839.

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Threza Gabriel
Threza Gabrielhttps://www.techgoing.com
Threza Gabriel is a news writer at TechGoing. TechGoing is a global tech media to brings you the latest technology stories, including smartphones, electric vehicles, smart home devices, gaming, wearable gadgets, and all tech trending.

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