Green Tech

GfK: Germany witnesses a surge in used smartphone sales

GfK: Germany witnesses a surge in used smartphone sales

The smartphone market in Germany is also affected by the poor economic conditions: GfK analysts report that the number of sales in 2023 dropped by 11%. However, the revenue only decreased by 2.1%, as the average smartphone price went up by 10% to a new high of € 701. This was due to the fact that the high-end segment of the market fell more slowly or even rose slightly.

Market researchers predict a modest improvement in the market for 2024, but with low growth. The demand for entry-level devices is falling among the lower income groups, while the premium buyers who are not concerned about the price stay in the market and opt for more expensive features when they buy new devices.

Sebastian Woldmann, GfK expert in the smartphone market, explained that “In addition to real innovations, in order to stimulate demand and revive the market in the long term, what is needed above all is a recovery in the willingness to buy of consumers, who have clearly suffered from the various crises in recent months.” Sadly, the MWC in Barcelona revealed that these innovations are still out of reach at the moment.

New device sales drop as German consumers keep their smartphones longer. 37% of new buyers used their old device for over 3 years and this will rise, as per GfK. Germans also buy more used phones for price and sustainability reasons. The secondary smartphone market grew 90% in 2023 from 2022. A remarkable growth.

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