Apple’s official used iPhones fetch a premium price
Wednesday, November 23, 2016 - 13:30:18
Plenty of Apple customers have taken advantage of online mobile recycling services in order to sell their unwanted, outdated iPhones so that they can make money back on their initial investment. And just as this brand’s devices are priced at a premium compared with rivals when new, this same trend is reflected on the second hand marketplace.
Apple itself has recently begun to increase its focus on iPhone recycling and refurbishment, not only buying back used devices but now selling them through its own channels. As Patently Apple points out this week, even a refurbished iPhone 6S can cost significantly more than a brand new, high end Android device.
This ties in with the latest figures from IDC, which indicate that the used smartphone market is set to achieve an annual growth rate of 22.3 per cent between now and the end of the decade.
Report spokesperson, Anthony Scarsella, said that there was a steep spike in the demand for second hand smartphones at the moment, with the average price of devices also going up slightly as more people get used to the idea of keeping a handset for 18 to 20 months before selling it and upgrading.
Some analysts even believe that because refurbished mobiles are becoming so popular, manufacturers will continue to see a downturn in demand for new devices.
This is certainly a trend that has hit Apple itself in recent months, with iPhone 7 sales failing to meet expectations. There are other factors involved, such as the incremental nature of the hardware update that this particular range offers compared with its predecessor, but the influence of the used market cannot be overlooked.
As more people sell their old phones online to be refurbished or recycled, the mobile market is becoming more sustainable and efficient, even if this comes at the expense of the profits made by major manufacturers.
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