Refurbished phone sales grew in 2022 despite the supply bottleneck in the global market. Most refurbished phones were sold in the Indian market.Apple is the leader of the refurbished phone market
According to market research firm Counterpoint Research, global smartphone sales rose 5% year-on-year in 2022, while new smartphone sales fell 12% during the same period. Apple captured 49% of the market, increasing refurbished iPhone sales by 16%. Samsung followed Apple with 26%.
Most sold in India
According to the report, consumers are now starting to hold new smartphones for longer. China saw a 17% decline in refurbished smartphone sales due to the impact of the pandemic, while India became the largest refurbished phone market in 2022. Rising component prices and inflation have impacted global smartphone sales, with consumers turning to budget-oriented refurbished smartphones. Global second-hand smartphone sales are predicted to reach 413 million units in 2026.
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