The used phone market is cannibalizing new iPhone sales: that’s why Apple is heading into a ‘third straight year of flat-to-declining units’

Apple’s “installed base” of iPhones grew 30% to 1.3 billion, the company says. But iPhone sales declined 1%. Bernstein analyst Toni Sacconaghi Jr. believes the second-hand iPhone market is now cannibalising new iPhone sales. The $1,000 price of the iPhone …
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