As reported by Counterpoint Research, iPhones are the most eco-friendly phones and their older models retain the best value in the market as used phones.
Apple plays a major role in various smartphone markets around the world and the company even dominates the refurbished smartphone market and a new report reveals that Apple has almost half of the entire refurbished smartphone market last year.
The report indicates that the company’s iPhone has a 49% share of the global market for refurbished phones.
In the past year, the iPhone was the fastest growing smartphone in the used and second-hand smartphone market. Interestingly, this has had an impact on the sales of Apple’s new iPhone models.
But these models still add to Apple’s services revenue stream, as phones still lead to in-app purchases and other subscriptions.
On the other hand, Samsung was the second largest brand in this segment, but it only occupied 26% of the market share. In other words, iPhones were almost twice as popular in the refurbished segment as the South Korean brand’s models.
This represents 16% annual growth for Apple through 2022, the report added.
Meanwhile, the global refurbished smartphone market is also witnessing a cumulative growth of 5% by 2022.
Vivo and Oppo were responsible for only 3% market share each, while Huawei saw a decline from 4% to 3% in 2022.
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