British research firm CCS Insights reports that Europe’s secondary mobile market grew by 6% year-over-year in Q3 2024, reaching 5.3 million units sold. Although growth remains positive, it slightly lags behind Q2’s 7% increase, which totaled 4.8 million units. In terms of value, the market expanded by 5%, amounting to €1.5 billion. Cumulatively, the first three quarters of the year have seen sales reach 15 million units, valued at €4.3 billion. However, a sharp drop in prices over recent weeks has raised concerns that the average price per device will decline further in Q4.
Price trends indicate future decline
The average price of a used phone in Q3 stood at €295, a €10 drop compared to the previous two quarters. This downward trend suggests the market may experience further price corrections by year-end.
Apple maintains lead but loses market share
Apple continues to dominate Europe’s secondary mobile market, holding a 64% market share. However, the brand has seen a noticeable decline compared to Q2’s 69%. Samsung is emerging as a significant contender, with its market share growing to 26%—the highest ever recorded. Other brands, including Google and Xiaomi, performed slightly better, contributing to a combined market share of 10%.
Top-selling models show shifting preferences
The Apple iPhone 64GB remained the best-selling device, capturing 8% of total unit sales. Notably, the Apple iPhone 13 overtook the iPhone 11 as the most popular model.
Market channels remain stable
Market channels continue to reflect stability. Retailers and marketplaces remain dominant, accounting for 66% of sales. Manufacturers (OEMs) and operators contributed 21%, while insurers and enterprises slightly increased their share to 13%.
Conclusion
Europe’s secondary mobile market remains resilient, showing steady growth despite recent price challenges. Samsung’s rise and Apple’s slight decline suggest shifting dynamics that may continue into Q4 2024.
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