Sales of used smartphones in Japan are projected to hit a record high for the sixth straight year in the fiscal term through March.

MM Research Institute estimates consumers will buy 3.15 million of the phones in the period. That's up about 420,000 units from last year.

Used models are expected to account for 10.8 percent of total smartphone sales, up from 9.7 percent a year earlier.

All the figures are based on a survey of businesses marketing the phones.

The company says buyers are opting for used devices because the rising cost of components is driving up the prices of new models. It says another factor is consumers want an extra phone to use for different purposes.