• Global refurbished smartphone sales grew 5% in 2024, similar to the growth rates seen since 2022.

• Apple strengthened its leadership, capturing 56% of the sales in 2024 compared to 51% in 2023.

• Global refurbished smartphone ASP declined to $394 in 2024 from $445 in 2023 due to a shortage of newer models.

• 5G smartphones formed 42% of the global refurbished smartphone market in 2024, up from 28% in 2023.

Seoul, London, Beijing, Buenos Aires, Fort Collins, Hong Kong, New Delhi, Taipei, Tokyo – February 24, 2025

Global refurbished smartphone sales grew 5% 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, following two to three years of consistent growth across regions, 2024 saw the refurbished market reaching maturity, and even stagnation, in some regions.

Source: Counterpoint Research Secondary Smartphone Market Report, 2024

Note: Numbers may not add to 100% due to rounding

Apple almost single-handedly drove growth in the secondary market in 2024. It was one of only a few OEMs 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. Senior Research Analyst Glen Cardoza said, “Apple’s growth this time was mostly made up of older models like the iPhone 11 and 12 series. 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 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. Cardoza said, “More durable devices have resulted in better-quality trade-ins, reducing the need for refurbishment. 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.

Commenting on the refurbished market outlook, Associate Director Jan Stryjak said, “2024 saw flatlining of growth in the refurbished market due to supply constraints. But we expect a recovery in 2025 due to more consumers upgrading their devices considering the post-Covid purchasing spike between 2020 and 2022. The focus will be on strategic inventory management across secondary businesses, which in turn may lead to increased trade with emerging markets.”

Background

Counterpoint Technology Market Research is a global research firm specializing in products in the TMT (technology, media, and telecom) industry. It services major technology and financial firms with a mix of monthly reports, customized projects, and detailed analyses of the mobile and technology markets. Its key analysts are seasoned experts in the high-tech industry.