According to a new report by Counterpoint Research, the refurbished smartphone market grew by 5 percent in 2022 compared to the previous year. However, Samsung has not been able to capitalize on this growth as the company’s share of the refurbished smartphone market has dropped from 28 percent in 2021 to 26 percent in 2022.
“A small percentage of Android consumers switched to iOS in 2022, which has impacted Samsung’s refurbished phone sales,” the research firm says in the report.
iPhones are the most wanted refurbished smartphones
Apple was the leader in the refurbished smartphone market with a 44 percent market share in 2021. This share has reached 49 percent. “Apple’s iPhones continued to be the most sought after smartphones due to brand perception, high margins and high inventory turnover rates,” Counterpoint Research says.
You might think this is good news for Apple, but in many ways it is not. Counterpoint Research suggests that Apple’s new smartphone sales have been negatively impacted by the surge in refurbished iPhone sales. However, the research company points out that the increase in refurbished iPhone sales also increases Apple’s revenue from services/subscriptions (such as iCloud, Apple Music and Apple TV).
Latest Situation in Refurbished Smartphone Market
When we look at the latest situation in the refurbished smartphone market, we see that Apple has increased its share to 49 percent, while Samsung has decreased from 28 percent to 26 percent, and Huawei from 4 percent to 2 percent. OPPO and vivo are brands that have maintained a 3 percent ratio.
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