Refurbished smartphone sales grew 5% globally but China saw a 17% YoY decline.
Apple captured 49% of the global refurbished smartphone market in 2022 followed by Samsung at 26%.
India led the market with 19% YoY growth, followed closely by LATAM with 18% YoY growth.
5G is growing in the secondary markets. It now makes up 13% of global refurbished sales.
With the demand for refurbished smartphones continuing to grow across most geographies, the global secondary smartphone market grew 5% YoY in 2022, according to Counterpoint Research’s Global Refurb Smartphone Tracker. The growth would have been more if not for the 17% decline in China’s refurbished smartphone sales. This was the steepest drop for the Chinese secondary market in years. A resurgence of COVID-19 and introduction of “COVID-Zero” policies were the major factors affecting business and demand in the country. India led the global refurbished smartphone market in 2022 with 19% YoY growth, followed closely by LATAM with 18% YoY growth.
In terms of brands, Apple’s global volumes grew 16% YoY in 2022, taking its secondary market share to over 49%. 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. The supply crunch is mainly felt for iPhones in refurbished markets.
Samsung’s share decreased to 26% in 2022 from 28% in 2021. Within the secondary market, there was a small percentage shift of Android consumers to iOS in 2022, which affected Samsung refurbished sales. This trend will likely continue in 2023.