The refurbished smartphone market is booming, and Apple is leading the charge. According to a recent report by Counterpoint Research, Apple captured a staggering 56% of the global refurbished smartphone market in 2024, a 5% increase from 2023. This growth significantly outpaces the new phone market, which saw a mere 3% increase.
Apple’s dominance is fueled by several factors, including increased supply and falling prices. The average selling price of a refurbished iPhone dropped to $394 in 2024 from $445 in 2023. This price drop, coupled with rising inflation and cost of living pressures, makes refurbished iPhones an attractive alternative to brand-new models.
Why Choose a Refurbished iPhone?
One key reason for the surge in refurbished phone sales is the diminishing performance gap between generations. While the iPhone 16 boasts new features like Apple Intelligence and an Action button, core functionalities like calling, texting, and browsing social media remain virtually identical to older models, such as the iPhone 11 Pro Max.
iPhone 12 Pro Max
This realization, combined with increased device durability, encourages users to keep their phones longer. Modern smartphones are built to last, making it easier to bypass the traditional two-year upgrade cycle.
Security Support and the Longevity of iPhones
A potential concern with using older iPhones is the eventual end of security support. However, Apple is renowned for providing extended support, often keeping devices secure for five to seven years after they are discontinued. The iPhone 11, for example, is expected to receive support until 2026.
Android vs. iOS: The Update Dilemma
Android devices typically receive shorter support windows, averaging two to three years of updates. Although Google’s Pixel line now offers up to seven years of support and Qualcomm’s recent program enables manufacturers to offer up to eight years of Android updates, the actual duration of support remains at the discretion of individual manufacturers.
The Future of the Refurbished Market
With rumors of the iPhone 17 already circulating, the iPhone 14 line is becoming increasingly affordable in the refurbished market. Given Apple’s discontinuation of its budget iPhone lineup, the second-hand market is poised for continued growth in the coming year. A refurbished iPhone offers a compelling blend of performance, affordability, and sustainability for budget-conscious consumers.
Considering a Refurbished iPhone?
The refurbished iPhone market presents a compelling option for consumers looking to save money without sacrificing performance. With Apple’s continued dominance and the increasing longevity of smartphones, choosing a refurbished device is becoming a smarter and more sustainable choice.
