Subj : Second-hand smartphone sales set to reach new high
To   : All
From : TechnologyDaily
Date : Thu Jul 13 2023 11:00:03

Second-hand smartphone sales set to reach new high

Date:
Thu, 13 Jul 2023 09:41:11 +0000

Description:
Budget-conscious shoppers are particularly interested in used flagships in 
mint condition.

FULL STORY
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The market for used and refurbished smartphones experienced immense growth in 
the first quarter of 2023 as consumers cut down on expenses and look to be 
more environmentally friendly, new figures have claimed. 

The latest report from market analysts CSS Insight claims this industry 
generated $13.3 billion in revenue in just the first three months of 2023, an 
impressive 14% year-on-year growth - particularly as sales of brand-new 
smartphones dropped by 2% over the same period. 

The report noted that consumers are mostly interested in premium phones, as 
flagship devices, especially those in mint condition, are most in-demand - 
with the Apple iPhone 12 the most popular choice. Significant scale 

"The secondary smartphone market has already built significant scale and is 
consistently outpacing the equivalent new-device market as better products 
become available from leading international brands", said Kane McKenna, 
Analyst at CCS Insight. 

The biggest problem in this market is that there arent enough used devices to 
go around: "Unlike traditional supply chains, this market relies on consumer 
trade-ins, which are proving to be the biggest challenge for the industry to 
reach global scale, McKenna added. Mobile operators in the US are clawing 
back phones from consumers much more effectively than others, but this hasn't 
been enough to stop trade-in levels flattening in recent quarters." Read more 

> Here's how to stay safe buying refurbished smartphones, according to the 
experts 


 > I bought a refurbished iPad Pro  and likely won't buy a new gadget again 


 > These are the best cheap refurbished phones and contracts 

Westerners seem to be on the hunt for devices from the far East: "European 
trade-in volumes are woefully below where they should be and traders are 
increasingly targeting Japan, India, South Korea and China to source 
products, as they collectively have a similar surplus of used iPhones as the 
US market", Simon Bryant, Vice President of Research at CCS Insight, added. 

Almost three-quarters of all products entering the supply chain were sourced 
by either mobile operators, Apple, or Samsung. But these companies only make 
up a quarter of the units sold to consumers and enterprises, the researchers 
further noted. Instead, resellers and marketplaces such as eBay, or Amazon, 
are making up most of the volume. Check out the best refurbished iPhones and 
prices



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Link to news story:
https://www.techradar.com/pro/second-hand-smartphone-sales-set-to-reach-new-hi
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