Apple has seen a substantial increase in its refurbished iPhone sales since last year, with the company holding a 49 percent share of the market.
According to research firm Counterpoint, the tech giant’s refurbished iPhone sales grew 16 percent last year, up a staggering 44 percent from 2021. Rival Samsung lagged behind, holding only a 26 percent market share, down from 28 percent the previous year.
Apple has done exceptionally well with keeping its refurbished iPhones a serious option for customers. The iPhones are outfitted with a new USB-C to Lightning cable, an outer shell and even new batteries. The phones also come unlocked and can be used with any carrier, giving users an option that’s close to brand new without having to pay full price.
The popularity of refurbished iPhones is also due in part to Apple’s warranty policy, allowing customers to take advantage of a full year of AppleCare+, which covers batteries and outer shell repairs.
Statistically, India became the leading refurbished smartphone market in 2022, with China taking a backseat due to a 17 percent decline in sales. Emerging markets saw a limited supply of refurbished devices, with consumers allegedly holding on to new smartphones for longer.
The increase could stem from rising component prices and globally high inflation, which impacted the sale of smartphones and created a demand for lower-priced models. However, Counterpoint suggests that the increase could be the start of a trend over the coming years, with trade-in programs becoming a staple choice for customers looking to get more for less.
For more iPhone news, Apple may be testing out a journaling app.
Source: Counterpoint Via: MacRumors
