Dan’s Biz Bookshelf: ‘Elevate: Push Beyond Your Limits'
The Marketing Minute: The First Step to More Sales—Marketing
It’s Only Common Sense: Customer Service Is Sales in Disguise
IDC Tracker: Used Smartphone Shipments Grew 6.4% in 2023 as Secondary Market Thrives Globally
September 25, 2024 | IDCEstimated reading time: 1 minute
More than 195 million used smartphones, including officially refurbished and used smartphones, were shipped into the market in 2023, an increase of 6.4% compared to 2022. The value of these shipments was $72.9 billion, up 12.4% year over year, according to data from the newly launched Worldwide Quarterly Used Device Tracker from International Data Corporation (IDC).
"The growth of the secondary smartphone market continues to outperform the new device market as the volume and quality of used and refurbished inventory across the channels improves over time," said Anthony Scarsella, research director, Mobile Phones at IDC. "New players continue to enter the market in numerous regions looking to grab a piece of this pie as sales of new devices have been slow to return to pre-pandemic levels."
While the secondary market looks impressive compared to the new market, which continues to make a modest recovery, growth rates for used models have slowed over the past few years. Inventory remains a critical issue as refresh rates continue to get longer in most developed economies, causing a shortage of premium models entering the secondary market. Trade-in programs continue to fuel the industry but only make up a portion of the total used inventory.
"The fact that all used devices need to be processed, some requiring more intervention than others, makes this market lean towards higher-priced devices and more established brands," said Diogo Santos, research analyst with IDC's Worldwide Quarterly Used Device Tracker. "Apple and Samsung dominate this category, accounting for close to 64% of the global used smartphone market. As the used device market matures and becomes more efficient, other brands and lower-priced models are expected to gain a larger share."
Despite the challenges, the market for used smartphones is expected to reach 257 million units in 2028 with a five-year compound annual growth rate (CAGR) of 5.7%. Shipment value is forecast to see similar growth with a 5.5% CAGR. In comparison, IDC's current forecast for the new smartphone market is a 2.8% CAGR over the 2023-2028 forecast period.
Share on:
Suggested Items
ViTrox’s HITS 5.0 Empowers Global Partners with Innovative Solutions and Stronger Bonds
07/16/2025 | ViTroxViTrox, strives to be the World’s Most Trusted Technology Company, proudly announces the successful conclusion of its fifth edition of High Impact Training for Sales (HITS 5.0), held from 23rd to 27th June 2025 at ViTrox Campus 2.0 and 3.0, located in Batu Kawan Industrial Park, Penang, Malaysia.
The Marketing Minute: The First Step to More Sales—Marketing
07/16/2025 | Brittany Martin -- Column: The Marketing MinuteIn today’s competitive B2B landscape, marketing is no longer just a support role; it’s the starting line. Before a PO is ever submitted, marketing has already laid the foundation for the sale. These days, buyers are more informed, selective, and self-guided than ever, and marketing is how they find, evaluate, and build trust in your company.
Infineon Advances on 300-millimeter GaN Manufacturing Roadmap as Leading Integrated Device Manufacturer (IDM)
07/10/2025 | InfineonAs the demand for gallium nitride (GaN) semiconductors continues to grow, Infineon Technologies AG is poised to capitalize on this trend and solidify its position as a leading Integrated Device Manufacturer (IDM) in the GaN market.
Webinar Review: A Global Trade and Economy in Flux
07/09/2025 | I-Connect007 Editorial TeamIn a July 8 webinar, Global Electronics Association Chief Economist Shawn DuBravac provided a comprehensive analysis of the evolving international trade environment, its implications for inflation, monetary policy, and labor dynamics, and a sober assessment of market valuations. In “Navigating a Shifting Landscape” DuBravac painted a picture of a global economy in flux, where shifting trade alliances and tariff structures are redrawing the supply chain map and influencing the broader economic landscape, while also conveying an overall bullish market outlook.
I-Connect007’s Editor’s Choice: Five Must-Reads for the Week
07/04/2025 | Marcy LaRont, I-Connect007For our industry, we have seen several bullish market announcements over the past few weeks, including one this week by IDC on the massive growth in the global server market. We’re also closely watching global trade and nearshoring. One good example of successful nearshoring is Rehm Thermal Systems, which celebrates its 10th anniversary in Mexico and the official opening of its new building in Guadalajara.