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Half of the global refurbished smartphone market in 2022 came from Apple, according to a recent report from Counterpoint Research (via Tech Crunch). In particular, Counterpoint shared Apple gained 49% of the share in the said year. The report came alongside other insights about the global secondary smartphone market, including its 5% year-on-year growth in the same timeline.
The share reflects other data related to the company’s recent growth. According to the research, Apple saw 16% year-on-year growth in its sales last year, something noteworthy given the decline in smartphone sales in some aspects. For instance, a report from Canalys claims that the global smartphone market has a 12% decline in Q1 2023. Counterpoint also noted that China saw a 17% YoY decline in its refurbished smartphone sales, saying it “was the steepest drop for the Chinese secondary market in year.” The report directly linked this fall to the pandemic and China’s COVID-Zero policies.
“Apple is the fastest-growing brand in the used and refurbished sectors globally,” the report reads. “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.”
In conclusion, Counterpoint stresses that “Apple’s iPhones remained the most sought-after smartphones due to the brand perception, high margins, and high inventory turnover ratios.”
Currently, Apple is the top mobile vendor in the market worldwide, according to StatCounter. From March 2022 to March 2023, Samsung has been the company’s main competitor. Nonetheless, it recently put the South Korean company in the second spot after gaining a 28.42% market share in March 2023.