Refurbished smartphone sales grew by 5% in 2024; Apple maintains its top position

Smartphones

Global refurbished smartphone sales grew 5% YoY (year-on-year) in 2024, as Apple strengthened its leadership, as the Cupertino-based tech giant accumulated 56% of the sales compared to 51% in 2023, according to Counterpoint Research's 'Secondary Smartphone Market Report.' In comparison, the market for new smartphones also witnessed a slight growth from a difficult 2023, as new smartphone sales grew 3% YoY.

Global refurbished smartphone sales: Key highlights

The report further adds that following two to three years of consistent growth across regions, 2024 saw the refurbished market reaching its peak and even stagnation in some regions. Apple almost single-handedly was the reason for this unprecedented growth in the secondary market in 2024, as it was one of only a few OEMs to increase sales in this segment, resulting in its share increasing to 56%.

Further, according to Counterpoint’s senior research analyst Glen Cardoza, Apple’s growth 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.”

In contrast, Samsung's ASP rose due to an increased preference for its flagship Galaxy S series, even though the Korean brand’s overall share reduced globally last year. Meanwhile, 5G smartphones witnessed significant growth across brands, accounting for 42% of the global refurbished smartphone market in 2024, which is a big jump from 23% market share in 2023.