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In a nutshell: Although Samsung just lately moved forward of Apple in the case of international smartphone shipments, one space the place Cupertino dominates is the refurbished telephones market. About half of the refurbed handsets sold globally last year were iPhones, marking a 16% year-on-year improve.
According to Counterpoint Research’s information, the worldwide financial disaster noticed demand for cheaper, refurbished smartphones develop 5% last year, with India (+19%) and Latin America (+18%) main the best way. While refurbed cellphone gross sales elevated in 2022, shipments of new units fell -11.3%.
The international determine for refurb gross sales would have been even increased were it not for the -17% decline in gross sales in China as a consequence of growing Covid-19 circumstances and the nation’s excessive Covid-Zero insurance policies that impacted companies and demand.
Samsung may need edged previous Apple in the case of international smartphone shipments, however iPhones were dominant within the refurbished market last year. Their international volumes elevated 16% YoY, taking Apple’s market share to 49%. Samsung, in the meantime, noticed its share lower from 28% to 26%. As such, there was a slight shift of Android shoppers to iOS in 2022, a pattern Counterpoint believes will proceed.
The elevated demand for refurbished iPhones is affecting gross sales of new handsets and Apple’s service income in lots of markets. But the recognition of refurbed iPhones means persons are shopping for them even in locations the place new variants are arduous to seek out.
Most shoppers shopping for refurbished smartphones opted for flagship or premium fashions, pushing up common promoting costs for the secondary market.
It’s fascinating to see that the transfer to 5G can be being felt within the refurbished market, with 5G-capable handsets making up 13% of international refurb gross sales last year.
Apple sells refurbished iPhones by way of its on-line retailer for a number of hundred {dollars} lower than their common value. The firm affords the identical one-year guarantee that comes with brand-new telephones, all manuals and equipment, a brand new battery, a brand new outer shell, and, if required, newly changed components. Samsung additionally sells refurbs on-line.
An component that also places folks off shopping for refurbished telephones is the worry that they might have an undiagnosed fault, however belief ranges are growing. With new fashions changing into dearer, trade-in ranges increased than ever, and folks cautious of making giant purchases within the present financial local weather, the refurb market is predicted to continue to grow. The one factor slowing the pattern down is the truth that folks have a tendency to carry onto their new telephones for longer, not desirous to spend one other $1,000+ on the newest improve.
…. to be continued
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