2023-07-20 10:58:38
According to a Counterpoint Research report, iPhones are the most environmentally friendly phones even their older models have consistently shown better value retention in the market as used phones. Apple is a major player in various smartphone markets around the world, and a new report reveals that the company dominates even the refurbished smartphone market and Apple accounted for nearly half of the entire refurbished smartphone market last year. The report indicates that the company’s iPhone has a massive 49% share in the global market for refurbished phones. And during the last year, iPhone was the fastest growing smartphone in the used and secondary smartphone market as well. Interestingly, this had an impact on sales of Apple’s newer iPhone models. But these models still add to Apple’s services revenue stream as phones still lead to app purchases and other subscriptions. On the other hand, Samsung was the second largest brand in this category, but it only occupied 26% of the market share. In other words, iPhones were almost twice as popular in the refurbished segment than models from the South Korean brand. The report added that this represented a 16% year-on-year growth for Apple in 2022. Meanwhile, the global refurbished smartphone market also witnessed an overall growth of 5% in 2022. Vivo and Oppo were responsible for only 3% of the market share. each, while Huawei saw a decrease from 4% to 3% in 2022.
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