Impact of Past iPhone Price Revisions on Used Smartphone Sales in Peer-to-Peer Marketplaces
Belong monitors and analyzes transaction data from peer-to-peer marketplaces. An analysis of the market trends for used smartphones, based on peer-to-peer data following the iPhone price revision in July 2022, revealed a sales price increase of 11.5% to 13.4% at its peak compared to immediately before the revision.
Predicted Impact on the Used Smartphone Market if Future iPhone Price Revisions Occur
Prediction ①: Prices Expected to Peak Approximately One Week After the Announcement in the Short Term
A simulation was conducted using current market data for the latest used iPhone models, referencing market data from the July 2022 iPhone price revision. Although the background for any future price revision may differ from that of 2022 (note 1), if a uniform 10% price increase is implemented for major iPhone models, sales prices in peer-to-peer marketplaces are predicted to rise by 9.8% to 12.4%.
This short-term price increase is attributed to consumers seeking more affordable devices, leading to an influx into the used smartphone market following new product price increases. A temporary surge in demand immediately after a price revision announcement is expected to rapidly push up sales prices.
Note 1: The iPhone price revision in 2022 was primarily caused by exchange rate adjustments due to the depreciation of the Japanese Yen.
Prediction ②: Prices Expected to Return to Pre-Revision Levels Over Approximately Two to Four Months in the Long Term
After prices reach their peak, they are predicted to gradually stabilize over approximately two to four months, eventually returning to pre-revision price levels in the long term.
This trend is supported by the temporary surge in demand subsiding over a certain period, in addition to the inherent nature of used smartphones, whose market value naturally declines with the passage of time. Due to these factors, even after an initial price surge, prices are expected to eventually turn downwards.
Analysis Assumptions
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The predicted figures are Belong’s unique estimations, calculated from past data and current market trends.
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A storage capacity of 256GB is assumed.
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Smartphones in good condition (equivalent to the highest grade in each service) are assumed.
About “NicoSuma”
“NicoSuma” is a used smartphone sales and buyback service operated by Belong, an Itochu Group company. With the motto “More you than new,” the service helps customers choose a smartphone that fits their lifestyle.
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NicoSuma (Used Smartphone Sales)
High-quality devices are carefully selected, aiming to overturn the typical image of used smartphones. Detailed condition information for each device is provided, allowing customers to choose with confidence.
https://www.nicosuma.com/
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NicoSuma Buyback (Smartphone Buyback)
Easy estimations without registration. Simple assessment criteria and thorough data erasure ensure that even first-time smartphone sellers can use the service with peace of mind.
https://www.nicosuma.com/sell
Useful information on smartphone purchases and sales is also available on “NicoSuma Tsushin”:
https://www.nicosuma.com/magazine
Company Overview
Belong’s mission is “To deliver next value that we can be proud of to our loved ones.” The company offers used device services tailored to both individual and corporate customers, including the individual-向け used smartphone EC site “NicoSuma” (https://www.nicosuma.com/), “NicoSuma Buyback” (https://www.nicosuma.com/sell), and the corporate-向け used smartphone rental, sales, and buyback service “Belong One” (https://bz.belong.co.jp/). The company’s creed is “to be honest,” providing high-quality devices at fair prices through strict inspections, thereby offering peace of mind for used devices to everyone.
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Company Name: Belong Co., Ltd. (Itochu Group)
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Company Establishment: February 2019
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Representative Director: Koichiro Nishimura
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Location:
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Head Office: Akasaka ZEN Building 4F, 6-4-10 Akasaka, Minato-ku, Tokyo
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Zama Operation Center: GLP Zama 3F, 2-10-10 Hironodai, Zama-shi, Kanagawa
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All company names, product names, and service names mentioned are trademarks or registered trademarks of their respective companies.
