Apple's Refurbished iPhone Sales Skyrocket Thanks to India

Counterpoint Research has reported a significant growth in Apple’s refurbished iPhone business. Apple’s refurbished iPhone sales increased by 16% in 2022, with India leading the charge with 19% growth compared to last year.

What Happened? The report revealed that Apple’s refurbished iPhone sales growth is affecting the sales of new iPhone models. However, this can only improve Apple’s Services revenue, as those purchasing refurbished iPhone units can still buy apps and subscribe to certain Apple services.

Meanwhile, Samsung’s share of the “secondary” smartphone market decreased to 26% in 2022 from 28% in 2021. Within the secondary market, there was a small percentage shift of Android consumers to iOS in 2022, which affected Samsung refurbished sales, and this trend will likely continue in 2023.

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Counterpoint says that the demand for refurbished smartphones is coming from new smartphone buyers in mature markets and from feature phone users switching to smartphones in emerging markets.

The industry research company’s analysts note that the shuffle at the top of the pile now makes Apple the “fastest-growing brand” in the used and refurbished smartphone markets worldwide. This is decreasing the demand for new iPhone sales, but increasing the demand for its various different subscription services.

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