IDC: used smartphone market surpasses 195-million-unit shipments in 2023

Growth continues to outpace new device market

According to IDC’s research director of mobile phones, Anthony Scarsella, the secondary smartphone market is outperforming the new device market as more high-quality used and refurbished phones become available. "New players continue to enter the market in numerous regions looking to grab a piece of this pie as sales of new devices have been slow to return to pre-pandemic levels," Scarsella noted.

The slowdown in new smartphone sales has prompted both manufacturers and retailers to focus on trade-in programs, which have become a vital source of used inventory. However, trade-in programs only account for a portion of the used smartphone supply. Extended refresh cycles in developed markets have caused a shortage of premium models, creating an inventory challenge for resellers.

Apple and Samsung dominate the market

Apple and Samsung are the leading brands in the used smartphone market, together accounting for 64% of global shipments. "As the used device market matures and becomes more efficient, other brands and lower-priced models are expected to gain a larger share," explained Diogo Santos, research analyst at IDC.

Despite these challenges, the used smartphone market is forecasted to reach 257 million units by 2028, with a compound annual growth rate (CAGR) of 5.7%. Shipment value is expected to grow at a similar pace, with a projected 5.5% CAGR through 2028. In contrast, the new smartphone market is expected to see slower growth, with a CAGR of just 2.8% over the same period.

Source: IDC