As yen tumbles, gadget-loving Japan goes for secondhand iPhones

FILE PHOTO: A customer looks at a display of used mobile phones in Iosys Corp's shop selling used smartphones at Akihabara electronics district in Tokyo, Japan October 28, 2022. REUTERS/Kim Kyung-Hoon

TOKYO (Reuters) - For years Japanese shoppers eagerly shelled out for the latest gadgets, but now a tumbling yen has put new iPhones out of reach for some and sparked a growing secondhand trade in a major market for Apple Inc.

The Japanese currency's fall to a 32-year low against the dollar has squeezed consumers and accelerated a broader spending shift in the world's no.3 economy. Industry watchers say Japan's shoppers have become more open to buying secondhand, thanks in part to the rise of online auction sites.