An increase in the number of refurbished smartphones that people are buying is natural in the current economic context, and Apple seems to know best how to take advantage of this change once again.

According to an analysis of this market conducted and published by Counterpoint, 49% of refurbished smartphones sold last year were iPhones. Apple managed to increase its share of this market last year by 16% compared to 2021.

The market share of Samsung, the main competitor, has decreased slightly from 28% in 2021 to 26% in 2022. At the same time, the analysis shows that a small percentage of Android smartphone users prefer the iPhone.

The refurbished smartphone market grew by 5% globally last year compared to 2021. Growth would have been much higher, analysts say, if not for a 17% drop in China due to COVID policies.

The decline in China has helped India become the largest market for these products. The market in India, where Apple is a coveted brand (iPhones are desirable but many cannot afford them), grew by 19% last year.

The refurbished smartphone market has long been one of Apple’s focuses, and sales are boosted by the fact that iOS benefits from updates for more years than Android.

Analysts say that a significant part of buyers in this market preferred buying flagships, which led to an increase in the average selling price of refurbished smartphones.

Rising prices for new smartphones, not just iPhones, and current macroeconomic factors are driving this market, the analysis shows.