Gadget enthusiasts in Japan are turning to old iPhones as the yen collapses

Gadget enthusiasts in Japan are turning to old iPhones as the yen collapses

Japanese shoppers have turned to affordable used iPhones as the falling yen puts the price of new models out of reach for many.

second hand trade for Apple company Products in Japan grew with the yen dropping to a 32-year low against the US dollar.

As a result, industry watchers say Japanese shoppers are becoming more open to buying second-hand, thanks in part to the rise of online auction sites.

iPhone price hike

In July, Apple raised the entry-level iPhone 13 price by nearly a fifth. The basic iPhone 14 came out later with 20% more than the iPhone 13. While the dollar has risen against global currencies this year, the yen has been particularly hurt, dropping by 22%.

Kaoru Nagase wanted a new phone but couldn’t justify the price of the iPhone 14, which starts at 119,800 yen ($814). Instead, he bought a used iPhone SE 2 in Tokyo’s Akihabara electronics district for less than a third of that amount.

“At more than 100,000 yen, the iPhone 14 is too expensive and I can’t afford it. It will be fine if the battery lasts 10 years,” he said.

100,000 yen barrier

Taishin Chonan bought an iPhone 13 second-hand after cracking the screen in one of the two devices he was carrying for personal use. The variant has a higher resolution and a better battery and camera than the iPhone 7 it was using.

“So far I’ve only bought new phones, and this is the first time I’ve bought used phones,” said the 23-year-old. “New models are very expensive.”

Daisuke Inoue, CEO of Belong Inc, a unit of trade houses, said that the prices of newer iPhones are now above the 100,000 yen level, which is a “major psychological barrier” for many shoppers. Itocho Corp..

change positions

Many Japanese have long been wary of second-hand items, including electronic devices, but that is changing.

market location to be purchased A company spokesperson said sales of used smartphones saw strong growth, while sales of home appliances and electronics also grew.

With Japan once again opening up to foreign tourists, the used iPhone market is getting another boost.

“The yen continues to weaken,” said Takashi Okono, CEO of Iosys. “This trend of visiting Japan and buying an iPhone is coming back.”

Apple declined a request for comment.

  • Reuters, with additional editing by Alfie Habershon

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Alfie Haberson

Two thousand correspondents in Asia Financial. He previously lived in Mumbai reporting on the Indian economy and healthcare for the IndiaSpend data journalism initiative, as well as working for Tortoise Media in London.

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