As smartphone upgrades plummeted, used iPhones sold like hotcakes
Selling a new smartphone is the hardest it has been in years. Rising device costs, limited differences between model upgrades, and economic and environment-related desires to keep electronics alive as long as possible are making people turn to refurbished phones, data shared this week by analyst Counterpoint found. And if someone is buying a refurbished phone, there's a good chance it's an iPhone.
According to Counterpoint, Apple represented 49 percent of refurbished phones sold worldwide in 2022. The number of refurbished iPhones sold increased 16 percent year-over-year, with the overall used smartphone market growing 5 percent year-over-year, Counterpoint said. The numbers would be even higher, but a reported 17 percent drop in refurbished smartphone sales in China-driven, the firm said, by an increase in COVID-19 cases and related policies-was detrimental.
By Counterpoint's measures, Apple grew its market share here from 44 percent in 2021 to 49 percent. Samsung is the biggest competitor, but it lost market share.