In the second quarter of 2024, 49.88 million used smartphones were shipped into the global market, representing an increase of 7.4% year-on-year,
according to International Data Corporation (“IDC”). Meanwhile, trade-in programs continue to fuel the industry. China is the largest single market for used smartphone shipments, accounting for 38% of the global market with 18.7 million units, which grew by 10% year-on-year in the second quarter of 2024. Used iPhones remained the most popular smartphones in China as its shipments accounted for over one-third of the market share.