The secondary smartphone market, which is made up of refurbished and “as is” smartphones, now makes up 20% of China’s total (new+used) smartphone industry, reports Counterpoint Research.
Apple will continue to rule the market but, according to a major retailer, due to new iPhone models being perceived as having limited upgrades, refurbished iPhone buyers in China are also considering switching to domestic brands, adds the research group. Older iPhone models are still selling in bulk, which resulted in declining average sales prices in 2024.
Counterpoint says that the Chinese government’s recent subsidy scheme for new smartphone purchases comes in the form of a discount on the new device when trading in an older smartphone. This is driving bulk supplies into the secondary market but only for entry-to-mid-tier smartphones. High-to-premium-tier smartphones still face supply constraints.
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