The lackluster technical improvements that technology companies, especially Samsung and Apple, have made on their phones over the past two years, in addition to the inflated prices that rise every year, have caused reluctance to buy new phones.
These factors prompted consumers to flock to buy used devices that cost at least $300 less than new devices, due to the lack of fundamental differences in the specifications of phones in recent years.
283 million used phones were sold in the United States last year, an increase of 11.5% over 2021, and the market is set to reach $99 billion in 2026.
data
The data indicates that 283 million used phones were sold in the United States last year, an increase of 11.5% over 2021, and the market value is set to reach $99 billion in 2026.
Sales of new smartphones declined in 2020, amid the onset of the coronavirus pandemic, but ever-increasing prices have kept customers at bay, with an iPhone today costing at least $100 more than it did two years ago.
Apple’s iPhones make up more than 80% of this “circular” economy, according to CCS Insight.
The International Data Corporation (IDC) claims that the boom in used smartphones is due in part to trade-in programs offered by Apple and other major smartphone companies, which allow customers to trade in their phones for another.
Smartphone sales began to decline two years ago when electronics makers were forced to close due to lockdown restrictions.
China, the only source of iPhones, started the lockdowns before the rest of the world and kept them in place longer, slowing Apple’s production.
However, many users noticed that each new iPhone released by Apple is no different from its predecessor, and is almost the same as the older version.
Rather than shell out more money, they either stick with their existing phone or buy a used model to upgrade.
The iPhone 8, released in 2018, costs $599, but the latest device, launched in September 2022, is on sale for $799 — and that’s just for the “affordable” model.
Smartphones as a whole seem to be losing their luster, consumers have had these mini computers in their pockets for over a decade, and each year, the devices don’t seem more revolutionary than their predecessor.
1.3 billion phones will reach the end of their life for the first time in 2022, with many resold on the second-hand market.
CCS Insight Foundation
Although the huge buttons and bezels disappeared from the old devices, which were replaced by technologies such as facial recognition that most of us only dreamed of while watching science fiction movies, and although the current features are superior, it seems that the technologies have reached a dead end, and many users said New smartphones are “totally boring”.
CCS Insight found that 1.3 billion phones will reach end-of-life for the first time in 2022, with many resold on the second-hand market, ZDENT reports.