iPhone: How the iPhone helps the second-hand cellphone market develop – Occasions of India

iPhone:  How the iPhone helps the second-hand phone market grow - Times of India

2021-07-14 08:35:38

Smartphones, particularly premium ones, price lots today. The costliest iPhone can set you again by near Rs 1.5 lakh whereas Samsung’s foldable telephones price much more than that. Typically individuals flip to second-hand telephones and a report by Counterpoint Analysis means that the refurbished market is rising. “The worldwide refurbished smartphone market noticed wholesome progress throughout most areas in H2 2020”, says the analysis by Counterpoint.
The iPhone issue within the refurbished market
Apple, as per the report, has made huge positive factors within the second-hand smartphone market. Based on Jeff Fieldhack, analysis director, Counterpoint, “There was no slowdown within the urge for food for Apple throughout the secondary market. In actual fact, over the previous 12 months, it has elevated in comparison with its opponents.”
Apple’s share within the international marketplace for new smartphones was simply over 13% within the second half of 2020. Its share within the secondary market, however, over the identical interval was stood at 44%.
Fieldhack additional stated that Apple’s secondary market common promoting costs are nearly thrice increased than the common of all its opponents. “Even with the rollout of 5G by over 150 cell operators in over 70 international locations, the demand and ASPs for Apple’s refurbished LTE portfolio stay elevated. That is serving to Apple develop its put in base as lots of the Apple patrons within the secondary market are first-time patrons,” stated Fieldhack.
Rising demand in India
Whereas the net refurbished market in India is slowly choosing tempo, it’s the unorganised market the place second-hand smartphones thrive. Counterpoint expects extra secondary market volumes to maneuver to different areas reminiscent of Africa, Japan, India, and Europe. “There are established secondary market firms, with new firms additionally shifting into these areas. There may be additionally an urge for food for flagships from premium manufacturers however at mid-tier pricing,” stated Glen Cardoza, senior analysis analyst at Counterpoint.

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