The global secondary smartphone market grew by 5% year-over-year in 2024, according to a new report from Counterpoint Research. Apple strengthened its dominance in the sector, increasing its share to 56%, up from 51% in 2023. The report highlights a shift in consumer behavior, with more people holding onto their smartphones for three to four years on average. High prices for new flagship models and an increasing preference for repairing and reusing devices have contributed to this trend.
Apple iPhones remain in high demand
Despite a constrained supply of newer Apple iPhone models, demand in the secondary market remained strong. The shortage of Apple iPhone Pro models led to an 11% decline in global refurbished smartphone average selling prices (ASPs), dropping from € 445 in 2023 to € 394 in 2024. In contrast, Samsung’s ASP rose due to an increased preference for its flagship Galaxy S series, even though the brand’s overall share reduced globally.”
Growth in 'as is' smartphones
Sales of 'as is' smartphones, which are resold with minimal refurbishment, grew by 13% year-over-year. Analysts attribute this growth to higher-quality trade-ins and rising refurbishment costs, leading businesses to focus on direct resale to maintain profit margins.
5G adoption in refurbished devices
The share of 5G-enabled refurbished smartphones rose from 28% in 2023 to 42% in 2024. However, this growth was slower than expected due to limited availability of newer Apple iPhone models in the secondary market.
Future outlook for the secondary market
Industry experts anticipate a rebound in refurbished smartphone sales in 2025, as more consumers look to upgrade devices purchased between 2020 and 2022. Effective inventory management and increased trade in emerging markets are expected to play a crucial role in future growth.
Commenting on the refurbished market outlook, Associate Director Jan Stryjak said, “2024 saw flatlining of growth in the refurbished market due to supply constraints. But we expect a recovery in 2025 due to more consumers upgrading their devices considering the post-Covid purchasing spike between 2020 and 2022. The focus will be on strategic inventory management across secondary businesses, which in turn may lead to increased trade with emerging markets.”
Market
Trade-in
Repair
Refurbishing
