More Buyers Choose Used iPhones Over New Ones And Here’s Why

Wait a moment before purchasing a brand-new iPhone. In 2024, Apple captured 56% of the refurbished smartphone market, marking a 5% increase from the previous year, as highlighted by a Counterpoint Research report. This growth outpaced the new phone segment, which only saw a 3% increase.

Much of this market expansion was fueled by Apple. In various regions, the supply of refurbished devices exceeded demand. The strong availability of popular models resulted in a fall in the average sales price, decreasing from $445 in 2023 to $394.

Several factors are contributing to the declining costs. Economic pressures such as inflation have made many families more budget-conscious. Additionally, it’s worth considering the features of new smartphones. While the iPhone 16 series presented a range of exciting upgrades, its performance is only marginally better than that of the iPhone 11 Pro Max. Features like Apple Intelligence and the Action button are appealing, but for typical smartphone functions—like calling or using social media—the differences are negligible.

As a result, many consumers are holding onto their devices for longer periods. Smartphones have become more robust, facilitating a typical two-year upgrade cycle without excessive wear and tear, such as cracked screens.

The main drawback of using older device models for extended periods is the eventual cessation of security updates. However, Apple is known for providing lengthy support for its phones, with many models remaining functional for five to seven years post-retirement. For instance, the iPhone 11 is projected to receive updates until 2026.

In contrast, Android devices typically receive two to three years of software updates, although some brands, like Google’s Pixel series, have begun to extend support to up to seven years. Recently, Qualcomm introduced a program enabling manufacturers to provide up to eight consecutive years of Android updates, potentially lengthening the support timeline for non-iPhones. However, the duration of such support varies by manufacturer.

With buzz surrounding the forthcoming iPhone 17, you might find excellent deals on the iPhone 14 models. Following Apple’s discontinuation of its budget lineup, it’s anticipated that second-hand sales will continue to rise over the next year.