The global secondary smartphone market grew by 5% in 2022, with India leading the growth at 19% YoY, followed by LATAM at 18% YoY. However, China experienced a significant decline in refurbished smartphone sales by 17%. According to Counterpoint, Apple dominated the market with a 49% share and 16% YoY growth in volumes, while Samsung’s share decreased to 26% in 2022. The demand for refurbished smartphones was driven by mature markets, feature phone users in emerging markets, and unofficial channels. Meanwhile, supply constraints stemmed from longer holding periods for new smartphones and disruptions in transport, trade, and logistics.
Increased consumer trust in refurbished smartphones, a focus on sustainability, and the growth of repair and refurbishment ecosystems contributed to the rising demand for refurbished devices. In 2023, the market will see a higher share of 5G smartphones, faster depreciation of 4G devices, and more opportunities for end-of-life activities and IT asset disposition (ITAD) businesses.
