The market for used smartphones is thriving, with approximately 309.4 million units sold in 2023, according to IDC. This represents a nearly 10% increase from the previous year. While most of these sales are driven by consumers seeking the best value for their money, there are valuable lessons for enterprise professionals and Apple itself.
Looking ahead, IDC anticipates that the market for used smartphones will continue to expand, with a projected compound annual growth rate (CAGR) of 8.8%, reaching 431.1 million units by 2027.
One in five
When combining the new and used smartphone markets for 2023, it’s estimated that one in five smartphones sold was a second-hand device.
It’s no surprise that Apple and Samsung are the dominant players in this market. According to IDC analyst Anthony Scarsella, these two companies are the most popular choices for used smartphones, reflecting the growing demand from consumers.
Based on previous reports, Apple is believed to have a significant share of the second-user market. This is evident in the introduction of the Stolen Device Protection feature in iOS 17.3 and the claim by Counterpoint that 49% of second-user smartphones sold worldwide are iPhones, with CCS Insights estimating Apple’s market share at 82%.
Despite its popularity, the growth of this market segment is hindered by a shortage of devices, as consumers are holding onto their phones for longer periods. This has led to a supply-demand imbalance, with most used smartphones coming from take-back and recycling programs, according to IDC.
As the smartphone industry continues to focus on high-end devices, consumers are increasingly seeking products that remain relevant for longer periods. Apple’s commitment to creating long-lasting devices has contributed to its appeal among consumers.
These changing consumer habits are also influencing the expectations of employees when it comes to workplace technology. While they still desire high-quality devices, they are more willing to adapt to longer refresh cycles and prioritize longevity over frequent upgrades.
2024-01-29 03:00:04
Link from www.computerworld.com