What’s driving the rise in used and refurbished smartphone prices?

Growth in emerging markets drives higher refurb prices

The demand for higher-end refurbished and used devices has surged in emerging markets, fueled by consumers and enterprises with an increasing appetite for flagship models. Counterpoint Research’s latest Global Secondary Smartphone Market Report reveals that refurbished smartphone ASPs rose by 6% in 2023, making them over one-quarter higher than the average new smartphone price. Notably, ASP growth in emerging markets has been nearly three times that of developed markets, emphasizing a strong shift towards premium models.

Structured market development and limited supply are two major factors behind the ASP surge. These trends, combined with the maturing infrastructure of secondary markets, have amplified the value consumers are willing to pay, especially in regions where high-end flagships are becoming increasingly sought after.

Apple iPhone drives ASP growth across secondary markets

The iPhone remains the dominant choice among refurbished devices, leading the ASP increase in both developed and emerging markets. Due to its popularity, the iPhone’s availability has a substantial impact on ASPs in the secondary market. Analysts expect the iPhone’s secondary market share to continue climbing, meaning its prices will remain a strong influence on the market for years to come.

Apple and Samsung solidify secondary market dominance

Counterpoint Research indicates Apple and Samsung hold an impressive 78% combined market share in the global secondary smartphone market, up from 75% in 2022. Both companies achieved double-digit growth, while other brands like Huawei, OPPO, and vivo saw significant declines, with the latter group’s combined sales dropping by 7%. OnePlus was the only competitor to show growth. Apple remains the largest player in this competitive secondary market, with its products continually in high demand across developed and emerging markets alike.