Counterpoint：全球二手智能手机市场正在转型

Core Insights - The second-hand smartphone market in mature regions like Europe, the US, and Japan is expected to show flat performance in the first half of 2025, with an average year-on-year growth of about 1% [1] - In contrast, emerging markets such as Africa, India, Southeast Asia, China, and Latin America are projected to remain active, with an average year-on-year growth of approximately 4%, significantly higher than the global average [1] Group 1: Africa Market Insights - The African second-hand smartphone market is anticipated to grow by 6% year-on-year in the first half of 2025, making it the fastest-growing region globally [5] - Factors driving growth include the increasing number of authorized retailers absorbing sales from informal channels and government-led initiatives like "Bridge by Digital Africa" that support local refurbishment ecosystems [5] - The popularity of imported second-hand iPhones is attributed to economic pressures and consumer perceptions of reliability and longevity compared to local new devices [5] Group 2: India Market Insights - The Indian second-hand smartphone market is expected to grow by 5% year-on-year in the first half of 2025, led by Apple [6] - Authorized retailers are accelerating online and offline recycling programs, positioning refurbished high-end models as reliable and cost-effective alternatives [6] - The market demand is shifting towards newer models due to retailer-driven trade-in programs and extended warranty services [6] Group 3: Southeast Asia Market Insights - The Southeast Asian second-hand smartphone market is projected to grow by 5% year-on-year, supported by a large informal channel system and stable inflow of second-hand devices and components from China [9] - C2C transactions driven by online platforms are becoming a significant growth engine for the second-hand market, fueled by improved consumer trust and supply chain enhancements [9] - Apple is leading the market with a 15% year-on-year growth, primarily due to the popularity of iPhone 12 and 13 models [10] Group 4: Mature Markets Insights - Mature markets like the US, Europe, and Japan are experiencing stable performance, with supply constraints and declining exports to emerging markets affecting sales [11] - In the US, market sentiment is volatile, with retailers and OEMs stockpiling components to mitigate potential policy changes [11] - In Japan, the recognition of officially certified second-hand smartphones is increasing, supported by government initiatives promoting transparent pricing [11]