Apple is a major player in the various smartphone markets across the globe. But its new launches aren’t the only ones that perform well in the market. Even its older models have consistently shown better value retention in the second hand market. And now, a new report has revealed that the company is even dominating the refurbished smartphone market.

According to a Counterpoint Research report, the Cupertino based giant accounted for nearly half of the entire refurbished smartphone market last year. The report states that the company’s iPhones had a massive 49 percent share in the global refurbished market. On the other hand, Samsung was the second largest brand in this category, but only held for 26 percent of the market share. In other words, Apple iPhones were almost twice as more popular in the refurbished segment over models from the South Korean brand.

The report added that this marked a 16 percent growth year on year for the iPhone maker in 2022. Meanwhile, the global refurbished smartphone market also saw an overall growth of 5 percent in 2022. During last year, the iPhone was even the fastest growing smartphone in the used and secondary smartphone market as well. Interestingly enough, this has had an impact on the sales of Apple’s newer iPhone models.

But these models still add to the Apple’s Services revenue stream as the handsets still lead to purchase of applications and other subscriptions. Apart from the two market leaders, the rest of the brands compete for the remaining market. Vivo and Oppo was responsible for just 3 percent market share each, while Huawei saw a decline from 4 percent to 3 percent in 2022.

RELATED:

• Apple wins appeal court ruling against Epic Games over anti trust battle
• Apple’s Mixed Reality Headset Goes Wireless: “Power Banks” to the Rescue
• Apple’s iOS 17 will reportedly allow third party app downloads outside of App Store
• Here’s Probably Why You Should Avoid Buying Samsung ACs in India
• How to use Nearby Share on macOS (Unofficial)

The post Apple iPhones dominates refurbished smartphone market with near 50% share appeared first on Gizmochina.

Refurbished phones offer great value since they can be bought for cheap while having only little to no wear and tear. Flagships like Apple and Samsung are mostly considered when going for refurbished phones and that doesn’t seem to change anytime soon. A new report from Counterpoint Research reveals that Apple was the market leader for refurbished phones last year. Additionally, the global refurbished smartphone market in 2021 reportedly saw more growth than the new smartphone market in 2021.

It’s a 15% YoY increase over 2020

The global refurbished smartphone volumes witnessed a year-on-year(YoY) growth of 15% in 2021. This is way higher than the new smartphone shipment volumes of 4.5% YoY last year. As per Counterpoint’s report, this is because new smartphones are launching at higher prices making buyers opt for refurbished models.

The refurbished market is also growing, thanks to the trade-ins that people go for while buying a new device. The trade-ins have also grown more than 10% in 2021 globally.

Latin America and India saw the most growth

If we compare the refurbished smartphone market of 2021 to 2020, we see that the market has grown tremendously in regions like Latin America and India. The Latin American market grew by 29%, while the Indian market grew by 25% in 2021.

Next comes the US with a 15% increase, followed by Southeast Asia’s 12% increase, China & Europe’s 10% growth, and lastly Africa showed an increase of 4%.

While the refurbished phone market surged, the average selling prices of refurbished devices have also gone up. This is because 4G devices in some of the regions still retain value due to the non-existence of 5G services. If we take India, for example, the region doesn’t have commercial 5G as of yet, which could be a reason for people buying refurbished devices, despite those devices being 4G-only models.

The refurbished market will continue to grow as some of the areas in these regions are yet to explore the refurbished smartphone market.

RELATED:

• Foldable smartphone shipment increased by 264.3% globally!
• India sees 11% growth in smartphone shipments in 2021; Xiaomi leads with 24% share
• Not iPhone, but Samsung Galaxy A12 was the most shipped phone in 2021: Report
• Global premium smartphone market growing faster than overall phone market, research shows
• China, Malaysia, Saudi Arabia rank top three in smartphone addiction, research shows
• Researchers in China reportedly achieve data streaming using 6G technology

The post Global Refurbished smartphone market shows 15% YoY growth; Apple takes lead appeared first on Gizmochina.

As we all know, COVID-19 has impacted every sector from Technology to Agriculture. Hence, the smartphone industry is no exemption to this. For instance, the Global smartphone shipments have declined by 8%. Accordingly, a counterpoint research now says that the Refurbished smartphone market also dropped in 2020.

The refurbished smartphone market is considered a secondary market. Although they are sort of old devices, they are scrutinized for repairs, repacked, and re-sold. Some even include half of the New Smartphone warranty(which is the Primary market). And the report says it considers only such devices for the analysis.

It mentions that the global refurbished smartphone market dropped by 9% YoY in 2020. Among the lot, LATAM(Latin America) and India seems to be the most affected with an individual drop of 24% and 20% respectively. China also faced the heat with an 8% drop in growth compared to 2019.

Reasons like the US-China trade war and tensions with Hong Kong are reportedly the reasons for this. Apparently, many resellers avoid china fearing scrutiny by the Chinese Govt, import duties, higher replacement part costs according to Research Director Jeff Fieldhack.

EDITOR’S PICK: IDC: Over 225 million used smartphones were shipped in 2020

The refurbished market’s H1 2020 period saw a huge 16% drop compared to H1 2019. And as the pandemic worsened, Lockdowns and economic restrictions in the majority of areas meant a lower inflow of refurbished devices. Compared to last year, Europe,  US, and others saw a 14%, 2%, and 10% drop respectively.

That said, the second half gave a bit of breath to the industry thanks to giants like Apple’s iPhone launch cycle. Precisely, according to Senior Research Analyst Glen Cardoza, Apple’s share in the secondary market grew from 39% to 42%.

The Black Market and Recommerce(reverse commerce- selling of old/new products) also grew in 2020. Add to this, the ASP(Average Selling Price) of refurbished LTE devices saw a rise in Price.

Overall, the majority of countries mainly faced a decline in the refurbished smartphone market due to the COVID-19 and as it is expected to subside with vaccine rollout, we can expect a rebound this year.

UP NEXT: Official data shows the Chinese smartphone shipments fell 20.4% in 2020

The post Refurbished Smartphone market drops 9% Globally in 2020: Counterpoint appeared first on Gizmochina.