Nov 15, 2018

Global market for refurbished phones grew 10% in Q2

Boxes of the trefurbished iPhone 5c from a facility in France. Photo: Charly Triballeau/AFP via Getty Images

As the smartphone market matures, people are holding onto their phones longer in developed countries. What's more, even the phones they are done with are increasingly "good enough" for users in emerging markets.

What's new: According to Counterpoint Technology Market Research, the global market for refurbished phones grew 10% in the second quarter of 2018, compared to the market for new smartphones, which dropped 1% from a year ago.

"The trends are linked," Counterpoint said in a blog post. "As consumers upgrade, they are preferring to sell their old devices into channels and use the value to offset the cost of the upgrade. ... This, in turn, is increasing the volume of devices in the refurb channels."

Details:

  • China is the largest market for refurbished phones.
  • India is the fastest growing market, with refurbished phone sales up 41% from a year ago.
  • Taken together, Apple and Samsung account for a third of the refurbished phones sold globally.

Why it matters: It's a tough one-two punch for the smartphone industry, which is dealing with slowing growth after a decade of massive expansion.

Go deeper

Situational awareness

Photo: Drew Angerer/Getty Images

Catch up on today's biggest news:

  1. Scoop: New White House personnel chief tells Cabinet liaisons to target Never Trumpers
  2. Trump misrepresents 2020 Russia briefing as Democratic "misinformation"
  3. Bernie Sanders takes aim at Bloomberg: "Trump will chew him up and spit him out"
  4. Nearly half of Republicans support pardoning Roger Stone
  5. Scoop: Lyft acquires cartop advertising startup Halo Cars

Sanders takes aim at Bloomberg: "Trump will chew him up and spit him out"

Photo: Mario Tama/Getty Images

Bernie Sanders told CBS "60 Minutes" that he was surprised by Mike Bloomberg's lackluster performance at Wednesday's Democratic debate.

What he's saying: "If that's what happened in a Democratic debate, you know, I think it's quite likely that Trump will chew him up and spit him out."

Scoop: Lyft acquires cartop advertising startup Halo Cars

Photo: Drew Angerer/Getty Images

Lyft has acquired Halo Cars, a small startup that lets ride-hailing drivers earn money via ad displays mounted atop their cars. Lyft confirmed the deal but declined to share any details.

Why it matters: Ride-hailing companies are increasingly eyeing additional ways to generate revenue, and Lyft rival Uber has been quietly testing a partnership with New York-based Cargo that gives it a cut of the advertising revenue, as I previously reported.