In the first quarter of 2024 alone, sales of refurbished smartphones in Russia in terms of monetary value increased four times compared to the same period last year.
This is indicated by data from Megafon and Yota, which also notes that refurbished iPhones are the most popular product among Russians. Specifically, from January to March 2024, demand for refurbished smartphones has increased 3 times in quantity and 4 times in value compared to the same period last year. The average price of such a device is 22,625 rubles.
If last year the leading company in the used smartphone market in Russia was Samsung, then in the first quarter of 2024, consumers are most interested in Apple devices. In particular, iPhone accounts for about 32.4% of total refurbished smartphones sold. The report states that Russians often buy iPhone 11 with 128 GB and 64 GB, as well as iPhone 12 Pro Max with 512 GB.
Followed by Samsung, the number of used devices accounts for 31.1%. The most popular smartphones selected include Galaxy A10, Galaxy A12 and Galaxy S20 FE. Xiaomi is in the last position in the top 3 with a market share of 15.6%. Most often, Russians are interested in the models Redmi Note 9, Redmi 9C NFC and Redmi 9.
It should be noted that sales of refurbished Chinese smartphones have increased threefold. The Infinix brand only appeared in the refurbished smartphone segment in December 2023 but has already entered the top 4 Chinese brands with a market share of 3.3%, second only to Xiaomi, Huawei and Realme.
Explaining this growth, Megafon said the demand for refurbished smartphones stems from the fact that they are returned to the market without traces of use, still under warranty and at a cheaper price. The company notes that smartphones accepted under the trade-in program will have to undergo a full replacement service before being displayed.