A new report has shared the insight that Apple is the new leader of the refurbished smartphone market across the globe.
Apple has 49 percent of the market share to its credit, followed by Samsung at 26 percent.
Apple’s Secondary Market Share Increased to 49% in 2022
According to market intelligence firm Counterpoint Research, Apple’s secondary market share increased to almost 49% in 2022 thanks to global volume growth of 16% YoY. In the global used and refurbished market, Apple is the brand that is expanding the fastest.
However, the demand for used iPhones is having an impact on new iPhone sales and service income in many areas. When compared to new smartphone shipments in the major regions, Apple is a significant contributor to the growing refurbished share. In markets for refurbished iPhones, the supply shortage is primarily noticeable.
As per a statement by Glen Cardoza, Senior Analyst at Counterpoint Research, “Imports from mature markets like the US, Europe and Japan have reduced as they have to cater to their own demand. We are looking at a transition where most markets are growing their own repair and refurbishment ecosystems domestically. This is changing the trade routes and reducing China’s imports and exports. Domestic players everywhere are focusing on expansion, partnerships and additional supply avenues.”
Samsung’s Share Decreased from 28% in 2021 to 26% in 2022
From 28% in 2021 to 26% in 2022, Samsung’s share decreased. Samsung refurbished sales were impacted by a small percentage of Android users switching to iOS in the secondary market in 2022. This pattern is probably going to be maintained this year as well.
2022’s secondary market trends will continue into 2023 in large part. In 2023, the share of 5G smartphones will grow significantly while the value of 4G devices may depreciate faster. The market research company claims that the rise in trade-ins and trend towards premium smartphones may result in a situation where the supply of low-quality old cellphones increases considerably.
Disassembly, logistics, warehousing, recycling, and e-waste disposal are examples of end-of-life operations that should have more opportunities. Businesses that dispose of IT assets (ITAD) may also experience improvement.
