[E-Daily Reporter Shin Yeong-bin ] Transactions centered on premium smartphones are expanding in the used phone market. As the cost of new smartphones becomes a growing burden, a trend continues among consumers to sell their existing devices to reduce the cost of purchasing new phones.

LG Uplus(032640) Cello, a used phone sales platform operated by subsidiary MediaLog, announced on the 6th that its used phone purchase volume increased by 18% year-over-year in the first half of this year, based on an analysis of its purchase data.

The number of used phone purchases by Cello in the first half of the year showed an upward trend as replacement demand surged following the launch of new smartphones. In particular, March saw the highest number of purchases during the first half of the year. This is believed to be due to a surge in demand from consumers looking to sell their existing devices immediately after the release of new models.

This growth trend continued even after the initial launch effect subsided. With purchase volumes rising year-over-year in the second quarter as well, it appears that used phone transactions are not limited to new product launch periods but are also occurring as part of regular device replacement cycles.

By model, transactions involving premium smartphones stood out. The Galaxy S24 Ultra was the most frequently purchased model on Cello during the first half of the year. It was followed by the Galaxy S22 Ultra and the Galaxy S23 Ultra. All three of the top-purchased models were Galaxy Ultra models.

The Galaxy S series accounted for seven of the top 10 purchased models. The Galaxy Z Flip series and iPhone Pro models were also among the top purchases. Cello analyzed this as a result of steady demand from consumers looking to sell their existing flagship models and upgrade to the latest devices following the release of new smartphones.

The company explained that selling used phones has become an established step in the smartphone replacement process. This is because, as the high retail prices of new devices become a burden, more consumers are selling their existing devices to reduce purchase costs. Consequently, trading in used phones is being utilized not merely as a way to dispose of unused devices, but as a practical means of upgrading.

A Cello official stated, “The purchase data for the first half of this year shows that the used phone market is not limited to periods around new product launches but is steadily expanding even during normal times,” adding, “As the retail prices of new devices rise, a culture of rational consumption—where consumers sell their existing devices to reduce the financial burden of purchasing a new phone—is spreading.”