Apple’s refurbished iPhones experienced double-digit growth during 2022, dominating the global refurbished smartphone market.
Counterpoint Research (via DigiTimes) says Apple’s refurbished sales grew by 16% last year, giving it a 49% share of the market in 2022, up from the 44% it held in 2021. Samsung snagged a distant second with a 26% share, down from 28% in 2022.
India became the largest refurbished smartphone market in 2022, thanks to China experiencing a 17% decline in refurbished phone sales in the same year, says Counterpoint Research. Most emerging markets saw only a limited supply of refurbished devices, as consumers reportedly held on to their smartphones for longer.
Apple’s popularity in the refurbished and repackaged market is likely due to the Cupertino firm’s refurbishing techniques for iPhones, which include new outer shells, new batteries, and new Lightning cable. This makes them basically equivalent to a new iPhone. Refurbish Apple handsets are also unlocked, allowing them to be used with any carrier.
Apple also includes a full year of AppleCare+ coverage, as well as an option to extend the AppleCare+ coverage.
In 2022, Global smartphone sales took a hit from rising component prices and inflation not seen in numerous years. This led cost-minded consumers to turn to refurbished smartphones.