Did you know Apple Dominated Refurbished Smartphone Market With 56% Share in 2024 Amid 5% Market Growth

 

According to Counterpoint Research's Secondary Smartphone Market report, there was a 5% increase YoY in global refurbished Smartphone sales in 2024. On the other hand, the new smartphone market grew 3% YoY in 2024 and 2024 was the year when the secondary smartphone market reached maturity. The most dominant smartphone brand in the secondary market was Apple, with its share increasing from 51% in 2023 to 56% in 2024. More consumers went to secondary markets to buy affordable Apple smartphones like the iPhone 11 and the iPhone 12 series. Newer iPhone models aren't available in the market much and that's why they saw a 11% YoY decrease and their global refurbished ASP dropped to $394 in 2024 from $445 in 2023.

There was a 13% YoY increase seen in ‘as is’ smartphones which are only sold out after cleaning and repackaging. As devices have become more durable and the cost of spare parts, equipment, and labor has increased, the need for refurbishment has decreased. 5G smartphones made up 42% of the global refurbished smartphone market in 2024, which is a 28% increase from 2023.

The 2024 share of 5G smartphones could have been higher if there had been more stocks of newer iPhone models traded between Q2 and Q4 of 2024. There was flat growth in the refurbished market because of many supply issues but some recovery is expected in 2025 as more consumers try to upgrade their devices.