The used smartphone market is booming, with around 309.4 million units sold in 2023, according to IDC. (That’s up almost 10% on the preceding year.) While most of this market comprises consumers trying to get the best smartphone they can for the money they’ve got, there is a lesson for enterprise professionals — and another for Apple itself.
Digging into the smartphone data a little, IDC expects the market for used smartphones to continue to grow at a compound annual growth rate (CAGR) of 8.8%, reaching 431.1 million units in 2027.
