According to a recent report by Counterpoint Research, the global market for refurbished smartphones experienced a 5% year-on-year increase in 2024. Apple played a crucial role in this growth, capturing a significant 56% of the sales, up from 51% in the previous year. In contrast, the new smartphone market also saw modest gains, rising by 3% after a challenging 2023.

The report highlights that while the refurbished smartphone sector reached new heights, it also faced stagnation in some regions after years of steady growth. Apple’s dominance in this market is noteworthy, as it was among the few original equipment manufacturers (OEMs) to achieve increased sales, primarily driven by older models like the iPhone 11 and 12 series.

On the other hand, Samsung’s average selling price (ASP) increased due to heightened interest in its flagship Galaxy S series, even as its overall market share declined. Additionally, 5G smartphones surged in popularity, making up 42% of the global refurbished smartphone market in 2024, a significant rise from just 23% the previous year.