China's booming used smartphone market: a 20% share, Apple's dominance challenged by domestic brands

China's booming used smartphone market: a 20% share, Apple's dominance challenged by domestic brandsChina, the world's largest market for used smartphones, continues to attract significant industry attention. A recent report from CounterPoint Research reveals that in 2024, the sales of used and refurbished smartphones in China accounted for 20% of the total smartphone sales nationwide

China's booming used smartphone market: a 20% share, Apple's dominance challenged by domestic brands

China, the world's largest market for used smartphones, continues to attract significant industry attention. A recent report from CounterPoint Research reveals that in 2024, the sales of used and refurbished smartphones in China accounted for 20% of the total smartphone sales nationwide. This underscores the immense potential and rapid growth of this market.

The report indicates a 6% year-on-year growth in the Chinese used smartphone market in 2024, primarily driven by increased domestic demand. This signifies a growing acceptance of used smartphones among Chinese consumers as a cost-effective alternative. Simultaneously, China solidifies its position as the world's largest secondhand smartphone trading hub, with its export market also expanding, demonstrating the increasing global reach of its used smartphone market influence.

While Apple iPhones still dominate the Chinese used smartphone market, the report highlights a noteworthy trend: weakening consumer perception of the need to upgrade to new models. Some users no longer see purchasing the latest model as a necessity, prioritizing actual user experience and cost-effectiveness instead. This presents a significant opportunity for domestic Chinese brands. In an increasingly competitive pricing environment, these brands are attracting more consumers with their competitively priced and well-performing products. Many users considering upgrades are no longer solely focused on the newest flagship models, instead considering used smartphones from domestic brands.

The report's observation of weakening consumer perception regarding new model upgrades reflects a shift in the smartphone market's competitive landscape. In recent years, rapid technological advancements led to significant performance improvements and new features in newer models, stimulating frequent upgrades. However, as technological advancements have leveled off, the gap between new and old models has narrowed, reducing consumer desire for new features. This has created favorable conditions for the used smartphone market and provided domestic brands with a chance to surpass international players like Apple.

CounterPoint Research's report offers a comprehensive analysis of the current state of China's used smartphone market. The 20% market share and 6% year-on-year growth demonstrate its substantial growth potential. Although Apple iPhones maintain a leading position, domestic brands are rising, winning over consumers with their more cost-effective products and strategies. This trend will further fuel the growth of China's used smartphone market and enhance its global role. The future development of this market and the strategies domestic brands will employ to increase their market share will be key areas of industry focus. Increased market competition will undoubtedly offer consumers more choices, ultimately driving the industry toward a healthier and more sustainable path. This benefits not only consumers but also injects new vitality and opportunities into the entire smartphone industry chain.