Buying a new smartphone can be a big investment these days. With the $1,000 barrier having fallen years ago, there are now many options available that cost sometimes significantly more than that. The new iPhone 15 Pro Max costs up to $1,600 plus sales tax, for example, exceeding the average weekly earnings of all employees in the United States by almost 40 percent.
Considering these numbers, it’s clear that not everyone can afford a brand new phone, explaining why there’s a flourishing secondary market for used phones. According to findings from Statista Consumer Insights, the vast majority of U.S. smartphone users still buy their primary phone new at retail price though, with phones bundled with mobile subscriptions the second most popular option. Interestingly, only 5 percent of the roughly 9,500 smartphone users surveyed said that they bought their phone secondhand, while 6 percent had received theirs as a hand-me-down from friends or family.
