Last year, 283 million used smartphones were shipped worldwide
The unit growth represents an 11.5 percent increase from the 253.4 million units shipped in 2021, according to the IDC.
This growth is expected to continue as IDC forecasts used smartphone shipments to reach 413.3 million units worth $99.9 billion by 2026 at a compound annual growth rate (CAGR) of 10.3 percent from 2021 to 2026 .
“Attractive price points are critical to growth, as cost savings remain the primary benefit. However, a high-end inventory struggle due to extended refresh cycles in the new market has led to prices rising more than 11 percent by 2022.” said Anthony Scarsella, research manager.
Trade-in programs continue to drive the global market for new and used smartphones.
In addition, trade-in in mature markets such as the US, Canada and Western Europe continues to play an important role in accelerating renewal cycles through telco and retail-driven promotions, the report said.
The increased sales of more expensive devices in the new market has also created a circular effect, as many of these aggressive trade-in deals mainly concern premium devices.
“How long these aggressive trade-in offers last remains a big question for buyers and sellers. Ultimately, small margins will affect the overall profit of the channel, the seller, or perhaps both,” the report added.
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