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.
Suggested Items
Federal Electronics Welcomes Joel Robbins as New Business Development Manager
04/02/2025 | Federal ElectronicsFederal Electronics, a leader in providing advanced electronic manufacturing services, is pleased to announce the appointment of Joel Robbins as Business Development Manager.
LG Display’s Guangzhou LCD Plant Officially Transferred to CSOT, Boosting Its Share of Large-Generation LCD Capacity to 22.9%
04/01/2025 | TrendForceLG Display’s Guangzhou Gen 8.5 LCD line was officially transferred to CSOT today (April 1st) and renamed “T11”.
Real Time with... IPC APEX EXPO 2025: Highlighting Global PCB Trends and Technologies with all4-PCB
04/01/2025 | Real Time with...IPC APEX EXPOAndy Shaughnessy and all4-PCB's Ralph Jacobo discuss global distribution trends in the PCB industry, focusing on new technologies in plasma etching and final inspection. Ralph highlights the importance of IC substrate buildup technology and partnerships in the market.
Electronic Design Automation Market to Reach $17.47 Billion by 2030, Growing at a CAGR of 10.7%
03/31/2025 | PRNewswireThe growth of the EDA market is driven by the increasing complexity of integrated circuit (IC) designs, rising adoption of connected devices, and growing demand for EDA solutions in the aerospace and defense sectors. Additionally, the increasing integration of AI and machine learning in chip design is further boosting market expansion.
Gartner Forecasts Worldwide GenAI Spending to Reach $644 Billion in 2025
03/31/2025 | Gartner, Inc.Worldwide generative AI (GenAI) spending is expected to total $644 billion in 2025, an increase of 76.4% from 2024, according to a forecast by Gartner, Inc.