Apple captures half of the refurbished phone market

According to Counterpoint Research, cited by TechCrunch, Apple will be the fastest-growing brand in the used and refurbished smartphone market, accounting for more than 49% of the global market in 2022.

Apple’s share of the market has grown from 44% in 2021 to 49% in 2022, despite a 17% decline in sales of refurbished phones in China due to a resurgence of COVID-19

Apple offers a 1-year warranty on the battery and provides regular software updates even for older models to help it grow in the refurbished phone market.

Customers are moving to the used smartphone market due to rising prices of new models, and in 2023, trade-ins and a shift to premium smartphones are expected to increase used smartphone inventory.