Even as older iPhone models lose value, Apple continues to be the leader in refurbished smartphones globally and in the U.S., according to Canalys.
The research group says the average selling prices (ASPs) of iPhones in the refurbished market are going through a transition as 4G LTE devices lose more value. Increase in 5G usage has a big part to play here.
With the iPhone 14 series launch, the prices for much older models like the 8, 11 and XR series have gone down by about 22%, according to Canalys.
According to Counterpoint’s Refurbished Smartphone Tracker, Apple is the leader in refurbished smartphones globally and in the US. The older iPhone models like the 8, X and 11 series make up the majority in the U.S. secondary market. The iPhones’ average selling prices (ASPs) in the refurbished market are going through a transition wherein the older models are quickly losing value due to the newer models on sale.
Canalys says 5G has a big part to play here. As more and more consumers opt for 5G packages, shipments of new 5G smartphones are overtaking 4G handsets in the U.S.. Consumers looking to buy a refurbished iPhone would most likely want to use the saved money on a good 5G plan.
This is reducing the demand for 4G LTE iPhones, according to Canalys. With the economy in the doldrums, some consumers might opt for the iPhone 13 series in the secondary market instead of a new iPhone 14 series.
