A local report has emerged that the prices of used iPhones are rising at Huaqiangbei, the largest electronics market in Shenzhen, China. This is seen as evidence that the sales of the iPhone 15 series are weaker than expected.
On the 4th, Chinese local media outlet Jiyil Caijing News visited the Huaqiangbei used mobile phone market and confirmed that older iPhone models are selling well. Jiyil Caijing reported, "Since the launch of the iPhone 15 series, prices of many older models have not fallen; rather, they have recently increased."
On the 2nd, visitors gathered at the Apple flagship store located in Sanlitun, Beijing, China. Most of them were seen checking out the iPhone 15 series. (Photo by Kim Hyunjung)
The price of a new iPhone 14 (256GB) was around 5,200 yuan (approximately 970,000 KRW), iPhone 13 was 3,000 yuan, iPhone 12 was 2,000 yuan, and iPhone 11 exceeded 1,000 yuan. Considering that the market selling price of the iPhone 15 series ranges from 5,999 yuan to 9,999 yuan depending on specifications, it can be said that the used price of the iPhone 14 remains at a high level. A local merchant told Jiyil Caijing News, "The prices of used Apple iPhones have risen a lot recently," adding, "It seems that new phones are not selling as well as in previous years."
Huaqiangbei is not only the largest electronics market in China but also Apple's largest trading market. On site, iPhone models from the iPhone 6 series to the iPhone 15 series are being sold. Prices vary from several hundred yuan to the 6,000 yuan range. Jiyil Caijing reported, "The sales counters visited by the reporters were crowded with people checking prices, and many merchants stated that the used phone sales situation this year is better than last year."
According to market research firm Counterpoint, global smartphone shipments decreased by 12% last year compared to the previous year, while the smartphone replacement cycle reached 42 months, the longest ever recorded. Counterpoint forecasts that global smartphone shipments will decrease by 6% this year, reaching 1.15 billion units, the lowest in the past decade.
In China, the used mobile phone market is attracting attention as a high-growth sector. Zhao Haijun, co-CEO of SMIC, pointed out at an investor meeting last August that the trend in this year’s mobile phone market includes not only "new mobile phones" but also "refurbished mobile phones," that is, the recycling of used mobile phones. The market estimates that about 140 million refurbished phones will be shipped this year.
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