The numbers reflect it, users are more likely to buy a used iPhone than a new one according to IDC data
Contrary to what one might think, used or refurbished mobile phones are popular with a portion of the world’s population. The latest data from IDC reveals this. Are more than 195 million smartphones usedincluding refurbished ones, which were officially put on the market during the year 2023. The increase was 6.4% compared to 2022. The value amounts to almost 73 billion dollars. There is a greater growth in this secondary market, even surpassing the market for new smart mobile phones.
Apple and Samsung lead the world in used cell phones
New cell phones sometimes have a very high, even exorbitant price and some users do not want to invest any more.. This is when they explore other options and find in the secondary market of used phones a new avenue for devices that already have a certain history but whose condition is intact and pure. According to the statements of Anthony Scarsella, research director at IDC, indicates that this The secondary market monopolizes new devices in such a way that the volume and quality of devices exceed over time.
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New competitors are joining in and seeking market share and this is rightly a success as the levels are balancing out, as they were before the covid pandemic began. What is evident is that the used device market has slowly recovered. and this is mainly due to the available inventory. They have relied on existing exchange programs, even if these only benefit to a small extent. Another factor is that In markets with more developed economies, users tend to update faster.what causes Some premium devices end up on the secondary market when news overtakes them.
64% of the global used smartphone market belongs to Apple and Samsungaccording to Santos Diogo, research analyst at IDC. The devices used undergo recognition and processing in which some require more intervention time, so Users pay more attention to trusted brands and higher prices.
The trend of buying used phones will increase over time
Growth rate of new and used smartphones worldwide. IDC chart
The people at IDC are clear about this, The second-hand appliance market could soon become one of the most efficient as other companies could be created and compete on price. The market will strengthen and bring greater confidence. It is expected that 257 million devices will be in use by 2028, with an annual growth rate of about 6%.
From the graph we can see above, The market for used devices and that of new devices will balance out in 2024, but things will change the following year. The year of the highest growth will be in 2027 and it will drop again to a percentage below 5% in 2028. If you are planning to buy a used iPhone, you need to be vigilant and check some important factors.
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