A slump in the yen's exchange rate against the U.S. dollar has led to an increase in used iPhone sales in Japan, as consumers seek to upgrade at a lower price than buying brand-new products. The yen has hit a 32-year low against the dollar, largely affecting the spending habits of the country's residents. Despite being the world's third-largest economy, the Japanese are changing the way they spend their money, preferring to buy second-hand items, including Apple iPhones.
The currency change was severe enough to significantly increase the price of iPhones in the country. Although the launch price of the iPhone 14 in the United States is $799 compared with the iPhone 13, its sales price in Japan is 20% higher.
Apple also raised prices on the iPhone 13 series models in July. At that time, the 128GB basic version of the iPhone 13 rose from 99,800 yen to 117,700 yen.
More than 100,000 yen ($683 USD), the iPhone 14 is too expensive, I just can't afford it. It would be nice if the battery lasted for 10 years, commented Kaoru Nagase, a working-class person who chose to I bought a second-hand iPhone SE 2 instead of the new iPhone 14 priced at 119,800 yen ($814 USD).
Daisuke Inoue, chief executive of Belong Inc, said the currency change has forced the price of the new iPhone 14 to exceed the 100,000 yen threshold of major psychological hurdles.
Online auction houses and resale sites also drove sales. Sales on Belong's Nicosuma website, for example, have tripled since Apple raised prices in July.
However, not all of the growth in used phone sales came from Japanese purchases. Second-hand phone sales are also growing as Japan once again allows foreign tourists to visit, with many users buying smartphones for use with Japan's local network.
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