As smartphone upgrades plummeted, used iPhones sold like hotcakes

Selling a new smartphone is the hardest it has been in years. Rising device costs, limited differences between model upgrades, and economic and environment-related desires to keep electronics alive as long as possible are making people turn to refurbished phones, data shared this week by analyst Counterpoint found. And if someone is buying a refurbished phone, there's a good chance it's an iPhone.

According to Counterpoint, Apple represented 49 percent of refurbished phones sold worldwide in 2022. The number of refurbished iPhones sold increased 16 percent year-over-year, with the overall used smartphone market growing 5 percent year-over-year, Counterpoint said. The numbers would be even higher, but a reported 17 percent drop in refurbished smartphone sales in China—driven, the firm said, by an increase in COVID-19 cases and related policies—was detrimental.

By Counterpoint's measures, Apple grew its market share here from 44 percent in 2021 to 49 percent. Samsung is the biggest competitor, but it lost market share.