One Tech Tip: Thinking of buying a secondhand phone? Some tips on what to look for [Yahoo! Finance Canada]
Apple Inc. (AAPL)
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Source: Yahoo! Finance Canada
To save money, consider buying a secondhand device. The market for used cell phones is booming. It's now growing faster than the market for new devices, according to CCS Insight, a U.K.-based tech research firm. As each new model release sends consumers rushing to upgrade, they'll also be selling or trading in their existing devices, which usually have lots of life left. If you're on a budget, a refurbished secondhand phone can be up to 50% cheaper than new, and they now come with warranties, flexible financing and after-sales service, CCS said in a recent report. Meanwhile, the starting price of a new top of the line iPhone Pro Max could potentially rise 29% from $1,550 to $1,200, according to a UBS estimate But buying a secondhand device is less straightforward than buying a new one. Here are some pointers: Which phones are the most popular? Apple fans will have the most choice because iPhones make up about 60% of the global market for secondhand phones, according to
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