Dipli: after Q2 price stabilization, refurbished smartphone market enters a transition phase

Following a sharp correction in Q1 2025, refurbished smartphone prices showed signs of soft stabilization in Q2 2025. However, beneath the surface, structural shifts in trade-in supply, consumer behaviour, and brand performance are reshaping the industry. Dipli’s latest price index update suggests the market is maturing, no longer solely driven by seasonal patterns.

Trade-in programs reshape supply chains

The Q2 2025 market remained influenced by an influx of Apple iPhone 12 and 13 units as well as Samsung Galaxy S20 and S21 models, largely due to trade-in programs linked to early 2025 flagship launches. Despite this boost in supply, prices saw only a modest rebound in June at +1.56 points, following previous monthly drops. Apple iPhones retained 45.7% of their original value in June, according to Dipli’s price index, reinforcing their strong position in the secondary market.

Globally, trade-in rates are still below 20%, leaving significant room for growth. According to CCS Insight, the second-hand smartphone market contracted by 2% in Q1 2025 to 27.1 million units. Average Selling Prices (ASP) dropped to € 255 due to oversupply and aggressive pricing by emerging Android OEMs. This downward pressure is likely to persist unless procurement strategies and price governance adapt.

Sustainability begins to influence demand

According to GSMA’s 2025 “Rethinking Mobile Phones” report, 70% of global consumers are now willing to pay a premium for environmentally friendly devices. Furthermore, 85% consider sustainability either “important” or “very important” in their next smartphone purchase. The GSMA projects that the circular device market will exceed € 138 billion globally by 2027.

This evolution means refurbished and trade-in programs are no longer niche offerings. Operators and retailers are repositioning these segments as core elements of their value propositions, with ESG (Environmental, Social and Governance) factors driving consumer engagement strategies.

Seasonal dynamics still relevant

June’s slight rebound in pricing shows that seasonality has not disappeared. The end of Q2 typically benefits from summer demand and procurement ahead of back-to-school cycles. While structural shifts are growing in influence, professionals still look to seasonal transitions to secure supply and anticipate Q3 trends.

Retailers and operators must adapt

In Q2 2025, the European market remained fragmented, with micro-market differences requiring localized pricing and segmentation strategies. Retailers are advised to secure volumes before back-to-school demand ramps up, prioritizing certified pre-owned stock and structured inventory. The launch of Windows 12 and AI-enabled smartphones is pushing demand for new product categories.

For telecom operators, now is the time to strengthen trade-in programs, leverage soft Q2 pricing, and monitor shifts in brand loyalty. While Apple iPhone retention remains strong, some Android segments show weakening loyalty, opening up new acquisition possibilities.