Apple is a major player in various smartphone markets around the world. But it’s not just new launches that are successful in the market. Even older models have consistently shown better value in the used market. And now a new report has revealed that the company even dominates the refurbished smartphone market.

According to the report Counterpoint Research, made up almost half of the market for giant, updated smartphones from Cupertino last year. The report states that the company’s iPhone has a large 49 percent share of the global refurbished device market. Samsung, on the other hand, had a market share of only 26 percent, despite being the second largest brand in the category. In other words, in the updated segment, Apple iPhones were almost twice as popular as the models of the South Korean brand.

The report added that this means 16 percent year-over-year growth in 2022 for the iPhone maker. Meanwhile, the global refurbished smartphone market has also seen an overall growth of 5 percent in 2022.

However, these models still add to Apple’s services revenue stream, as phones still lead to purchases of apps and other subscriptions. Brands outside of the two market leaders compete for the rest of the market. Vivo and Oppo each accounted for only 3 percent of the market, while Huawei fell from 4 percent to 3 percent in 2022.