14 DAY TRIAL // Apple is currently the leading company when it comes to sales of refurbished smartphones, not only in the United States but in the rest of the world as well.
Research from Counterpoint Research reveals that some older iPhones, however, are getting cheaper when they are refurbished because of the lack of 5G.
This makes perfect sense, as the 5G market is growing, and the demand for devices with such capabilities is on the rise. With 4G losing traction, it’s not a surprise that older iPhones are becoming cheaper.
Strong demand for the iPhone 14 Pro
Counterpoint says that right now, iPhone 8, iPhone X, and iPhone 11 spearhead the refurbished market when it comes to refurbished smartphones.
“Apple is the leader in refurbished smartphones globally and in the US. The older iPhone models like the 8, X and 11 series make up the majority in the US secondary market. The iPhones’ average selling prices (ASPs) in the refurbished market are going through a transition wherein the older models are quickly losing value due to the newer models on sale. 5G has a big part to play here,” Counterpoint says.
“As more and more consumers opt for 5G packages, shipments of new 5G smartphones are overtaking 4G handsets in the US. Consumers looking to buy a refurbished iPhone would most likely want to use the saved money on a good 5G plan. This is reducing the demand for 4G LTE iPhones. With the economy in the doldrums, some consumers might opt for the iPhone 13 series in the secondary market instead of a new iPhone 14 series.”
Counterpoint says it’s seeing strong demand for the iPhone 14 lineup, but at this point, it looks like the Pro models are the ones spearheading the new series.