The used smartphone market is expected to nearly triple over the next few years as swap-in programs attract more consumers to more affordable refurbished hardware. The market for used smartphones is expected to climb to 222.6 million units by 2020 from 81.3 million in 2015, representing a compound annual growth rate of 22.3%, according to trends tracker IDC. Increasing demand for recycled and hand-me-down phones will impact original equipment manufacturers and mobile operators such as Apple Inc. and Samsung Electronics , according to Will Stofega, program director for IDC’s mobile phones research division. The forecast comes on the heels of Apple’s first-ever annual decline in iPhone sales. Shares of Apple rose 1.4% to $111.58 in afternoon trade, but remain down 6.5% in the past 12 months. The Dow Jones Industrial Average has also risen 2% in the past three months but has outperformed Apple on the year, rising 6.2%.
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From:: Stock Market News