Used Smartphone Sales To Hit Record High In Japan

Sales of used smartphones in Japan are expected to reach an all-time high in 2024, as rising prices of new devices push consumers toward more affordable alternatives, a Tokyo-based research company said, Kyodo News reported.

While new smartphone models, including Apple Inc.’s latest iPhone released in September, have garnered attention, many consumers seem hesitant to spend on brand-new devices.

Sales of used smartphones are projected to increase by 15.5% from the previous year to 3.15 million units, marking a record high for the sixth consecutive year. This surge is also driven by purchases from foreign visitors, according to MM Research Institute Ltd.

Sales are expected to continue growing in the coming years, potentially reaching 4.38 million units by 2028, due to the rising prices of new devices caused by the yen’s depreciation and higher material costs, the research firm said, as reported by Mainichi Japan.

While new smartphone models, including Apple Inc.’s latest iPhone released in September, have garnered attention, many consumers seem hesitant to spend on brand-new devices, said Hideaki Yokota, vice president of MM Research.

"People are becoming more comfortable with secondhand products, as used smartphones can be utilized without inconvenience," Yokota said.

Visitors from China and other countries are also contributing to the rise in sales, purchasing used iPhones in good condition, according to the research company.