Sales of used smartphones in Japan are expected to reach a record high in fiscal 2024, as rising prices for new devices prompt consumers to seek more affordable options, according to a Tokyo-based research firm. There is.
According to MM Research Institute, the number of used smartphones sold is expected to increase 15.5% from the previous year to 3.15 million units, setting a record high for the sixth consecutive year.
According to the research firm, sales are likely to expand further in the coming years, reaching 4.38 million units by fiscal 2028, due to rising prices for new devices due to the weaker yen and rising material costs.
A used smartphone sold by flea market app operating company “Mercari” was photographed in Tokyo in September 2023 (Kyodo)
New smartphone models such as the latest iPhone released by Apple in September are attracting attention, but many consumers seem to find it difficult to loosen their wallets, according to MM Research Institute. Vice President Hideaki Yokota points out.
Mr. Yokota says, “People are becoming more convenient about second-hand smartphones because they can use them without any inconvenience.”
The research firm said visitors from China and other countries picking up used iPhones in good condition also contributed to the increase in sales.
Reflecting their popularity, the proportion of used smartphones in Japan’s total smartphone sales is expected to increase from 9.7% in fiscal 2023 to 10.8% this fiscal year.
Belong, which specializes in selling used smartphones, said corporate demand is also increasing as digital devices are used for inventory management in restaurants and electronic medical records in the healthcare sector.
To support the second-hand smartphone market, a committee of experts under the Ministry of Communications recommended in September that carriers should be prohibited from restricting the use of smartphones based on unpaid bills by the previous owner.
Related coverage:
Japan’s antitrust watchdog to establish new division to regulate IT giants
