Global refurbished smartphone sales grew 5% year-over-year (YoY) in 2024, according to Counterpoint Research’s Secondary Smartphone Market Report.
In comparison, the market for new smartphones rebounded from a difficult 2023 to grow 3% YoY. However, Counterpoint says that, following two to three years of consistent growth across regions, 2024 saw the refurbished market reaching maturity, and even stagnation, in some regions.
Apple almost single-handedly drove growth in the secondary market in 2024, according to Counterpoint. It was one of only a few manufacturers to increase sales in 2024, resulting in its share increasing to 56% from 51% in 2023. More and more consumers turned to the secondary market to get their hands on affordable iPhones.
“Apple’s growth this time was mostly made up of older models like the iPhone 11 and 12 series,” says Senior Research Analyst Glen Cardoza. “Even with the iPhone 13 and 14 series being in the market for some time, many consumers held on to these devices for longer, creating a supply crunch. The supply of newer iPhone models was affected to such an extent that the global refurbished average sales price [ASP} dropped by 11% YoY in 2024 to reach $394 from $445 in 2023. In contrast, Samsung’s ASP rose due to an increased preference for its flagship Galaxy S series, even though the brand’s overall share reduced globally.”
Sales of “as is” smartphones – those that are simply cleaned and repackaged with no technical work carried out – grew 13% YoY.
“More durable devices have resulted in better-quality trade-ins, reducing the need for refurbishment,” Cardoza says. “Also, rising costs of spare parts, labor and equipment mean many players are simply selling used smartphones ‘as is’ to maintain margins.”
Meanwhile, 5G smartphones witnessed a significant surge across brands, accounting for 42% of the global refurbished smartphone market in 2024, up from 28% in 2023. The 2024 share would have been much higher if not for the low stock of newer iPhones traded in between Q2 and Q4 of 2024.
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