A new analytical report this morning states that more than 195 million used smartphones, including officially refurbished and used smartphones, were shipped into the market in 2023, an increase of 6.4% compared to 2022. The value of these shipments was $72.9 billion, up 12.4% year over year, according to data from the International Data Corporation (IDC).

"The growth of the secondary smartphone market continues to outperform the new device market as the volume and quality of used and refurbished inventory across the channels improves over time," said Anthony Scarsella, research director, Mobile Phones at IDC. "New players continue to enter the market in numerous regions looking to grab a piece of this pie as sales of new devices have been slow to return to pre-pandemic levels."

While "Apple and Samsung dominate this category, accounting for close to 64% of the global used smartphone market," IDC refused to breakdown the 64% figure so as to know which of the two companies were actually the market leader is. Usually when this occurs in analytical reports, it's Apple that is dominant.

Side Note: Our cover graphic smartphone prices are from Best Buy: iPhone Price and Galaxy S21 Price as of September 25, 2024.