Booming market for used iPhones

Print
Email
|

by Bloomberg Business Report

Bloomberg

Posted on May 27, 2013 at 7:38 AM

Updated Monday, May 27 at 7:38 AM

If you're headed home from a Memorial Day roadtrip Monday, you'll most likely be sitting in a lot of traffic. Analysis of recent traffic trends by Inrix show the busiest time to be on the road is from 2 p.m. to 4 p.m. And be careful. The National Safety Council estimates there to be more than 400 fatal crashes during the Memorial Day weekend.

Luxury jewelry maker, Tiffany, is seeing stronger demand, but it's not here in America. It's in China. As Americans get back on track with their finances, we'll see how their sales were in the U.S. when it reports first quarter results on Tuesday.

There's always long lines for days outside Apple stores whenever a new iPhone is released. Bloomberg Business Week says at the moment the hottest iPhones are less expensive and older. Sales of refurbished iPhone 4's and 4S's are booming among price conscious shoppers, especially in fast-growing emerging markets overseas.

In the past, Apple frowned on the refurbished iPhone market, saying it hurt sales of new devices. But the trade-in boom helps Apple clear out unsold iphone inventory in the U.S., while also making used iPhones an option for hundreds of millions of first-time smartphone buyers in Asia, the Middle East, and Africa.

Print
Email
|