Second-hand smartphone market: India leads, iPhones most in-demand, and 8 other things to know

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Gadgets Now Bureau
25 Apr, 2023, 02:06PM IST

The refurbished — or grey market or second-hand or used — smartphone market has seen growth globally. According to a report by Counterpoint Research, the market for refurbished smartphones grew almost everywhere in the world, with India leading the charge. Here are 10 things to know about the global refurbished smartphone market:

The overall market saw growth in 2022

According to Counterpoint, the global secondary smartphone market grew 5% YoY in 2022.

Demand for second-hand smartphones grows in India

The report noted that India led the global refurbished smartphone market in 2022. There was 19% year-over-year growth in the Indian market.

A steep decline in China’s market

China saw a 17% decline when it comes to second-hand smartphones. As per Counterpoint Research, “a resurgence of COVID-19 and introduction of “COVID-Zero” policies were the major factors affecting business and demand in the country.”

iPhones are the most in-demand second-hand phones

According to the report, Apple is the fastest-growing brand in the used and refurbished sectors globally. Apple’s share in this market grew by 16% y-o-y.

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Why Apple does better in the market

Counterpoint’s reports noted that iPhones remained the most sought-after smartphones due to the brand perception, high margins, and high inventory turnover ratios.

Samsung leads Android phones but demand declined

Samsung’s share in the market decreased to 26% in 2022 from 28% in 2021. A reason behind this, as per the report, is more people shifting from Android to iOS.

5G smartphones in the market see growth

Counterpoint’s research noted that users want 5G phones across the globe. 13% of total refurbished phones were 5G phones.

4G phones to lose their value in the second-hand market

According to Counterpoint Research, the trends of 2022 will be seen in 2023 as well. “5G smartphone share will increase substantially and 4G smartphones may lose their value at a faster rate in 2023,” noted the report.

Latin America was the second biggest market

After India, it was the Latin Americas region that saw the most demand for second phones with 18% growth.

Oppo, Vivo’s market share

In the overall market, Oppo and Vivo and 3% market share each. Huawei’s market share was 2% whereas “Others” combined to garner 17% market share.


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