Sales of used phones in Japan are expected to increase 15.5 percent year-on-year to 3.15 million units, a record high for the sixth consecutive year, according to a survey by the MM Research Institute.
Sales of this item are forecast to continue to increase in the coming years, possibly reaching 4.38 million units in fiscal 2028 as the yen depreciates and rising input costs push up prices for new products. Another driving force behind this result is the purchasing power of foreign tourists.
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| Used smartphone sales hit record high in Japan. (Source: Kyodo) |
Mr. Hideaki Yokota, Vice President of MM Research Institute, commented that although new smartphone models attract customers' attention, many consumers are still hesitant to "open their wallets" so they are willing to buy old phones if they are still convenient to use.
The share of used phones in overall smartphone sales in Japan is forecast to increase from 9.7% in fiscal 2023 to 10.8% in the current fiscal year.
Belong Inc., a company that sells used phones, said business demand for the product has also increased.
This electronic device is used in inventory management of restaurants or electronic medical records in the healthcare sector.
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