It seems that the slowdown in growth and the tough economy globally has contributed to the growth of refurbished smartphones significantly.
Apple and refurbished smartphones
Sales of refurbished smartphones grew by 5% globally. Conversely, China experienced a 17% year-on-year decline.
Refurbished phones are devices in which a manufacturing defect was discovered and returned to the company that fixed the problem and resell those devices at a lower price.
According to the market research company Counterpoint ResearchApple accounted for nearly half of all refurbished smartphone sales worldwide. As its sales grew by 16%, reaching a share of about 49%. This is an increase compared to 44% in 2021.
Samsung came second, with a share of 26%, and this represents a decrease compared to the previous year 2021, as it achieved a share of the refurbished smartphone market that reached 28%.
India will become the largest market for refurbished smartphones in 2022. China saw a 17% decline in sales of refurbished phones in the same year.
India achieved a growth rate of 19% annually, followed by Latin America with a growth rate of 18% year on year.
The market research firm said most emerging markets saw a limited number of refurbished devices. It found that users keep new smartphones longer.
Read also from Technology News:
The Apple Watch will feature an AI-powered personal trainer in 2024
Perhaps the reason for the interest in Apple’s refurbished iPhones is due to the company’s warranty policy, which covers battery and external repairs. Also, there is Apple Care Plus, which allows you to get a two-year warranty along with protection for an unlimited number of accidental damage cases.
Finally, global smartphone sales were affected in 2022 after the sharp rise in component prices. In addition to inflation, the exchange rate and the economic recession that is spreading everywhere. All this contributed to an increase in the demand for cheaper and refurbished phones.
