A new report has just revealed that Xiaomi is the leader in the second hand market for smartphones that were produced locally in the second quarter of this year in China.
The news arrives from a recent report from the Zhuanzhuan Group that was titled the “Mobile Phone Market Report for the Second Quarter of 2021.” In this report, it was revealed that the Chinese tech giant overtook Vivo to become the largest domestic smartphone brand in the second hand handset market. Although, the number one brand in terms of transaction volume increase was Honor, which saw a month on month growth rate of a whopping 88.34 percent during the second quarter.
The report also noted an interesting trend, with the price of second hand Apple iPhone witnessing a steady decline in the used market. On the other hand, the prices for the second hand flagship smartphone models from Huawei saw an explosive rise, reaching 96.45 percent for the Mate 40 Pro. While 5G enabled handsets were the market leaders for the new smartphone segment, 4G was still accounted for a notable market share of the second hand market.
Zhuanzhuan Group’s report also added that the second hand mobile phone market in Q2 saw a 10.76 percent rise in transaction volume over the previous quarter. Talking about the overall market, Apple still led the second hand market with a share of 36.53 percent in Q2. Xiaomi led the domestic brands in this segment, with a 13.88 percent market share. On the other hand, Vivo and Huawei followed close behind with a 12.7 and 12.04 percent market share.
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