Apple’s iPhone captured 49% of the global refurbished smartphone market in 2022 followed by Samsung at 26%, according to a new Canalys report.
The research group says refurbished smartphone sales grew 5% globally but China saw a 17% year-over-year (YoY) decline. India led the market with 19% YoY growth, followed closely by LATAM with 18% YoY growth. Canalys says 5G is growing in the secondary markets. It now makes up 13% of global refurbished sales.
In terms of brands, Apple’s global volumes grew 16% YoY in 2022, taking its secondary market share to over 49%. Canalys says Apple is the fastest-growing brand in the used and refurbished sectors globally.
This secondary market demand is affecting new iPhone sales and service revenues in many markets. Apple is a major contributor to the increasing refurbished share as compared to the new smartphone shipments in main markets, according to Canalys. The supply crunch is mainly felt for iPhones in refurbished markets.
Article provided with permission from AppleWorld.Today