Thursday, December 8, 2022
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Used iPhone sales soar after Japanese new phone price hikes

Used iPhones have recently become more popular in Japan as the fall of the yen has pushed up the price of new iPhones, according to China Mobile.

The yen fell to a 32-year low against the dollar, and in July this year, the price of the iPhone 13 in Japan rose by almost 20%. The increase in prices led to the fact that sales of new Apple smartphones in the country fell by 9% by the end of September.

Used smartphone sales in Japan are up nearly 15% year-over-year to a record 2.1 million units, according to research firm MM Research Institute, and could reach 3.4 million by 2026. A further depreciation of the yen could prompt Apple to raise prices again, cutting its 50% share of the Japanese smartphone market.

The head of a Japanese used mobile phone trading company said that the high price of the iPhone 14, released by Apple in September, unpleasantly surprised buyers. Since Apple raised prices in July, sales of used goods have tripled compared to the previous three months, he said.

Moreover, in addition to used smartphones, sales of other used home appliances and electronics also increased.

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