Refurbished smartphones are becoming increasingly popular
Refurbished smartphones are becoming increasingly popular. According to statistics from analytics firm Counterpoint, the global refurbished smartphone industry expanded by 15% in 2021.
According to Counterpoint Research’s Global Refurb Smartphone Tracker, the refurbished or secondary smartphone market experienced solid growth last year. Due to rising interest in sustainability, and awareness of the sub-market certified pre-owned alternatives. An increase in quality checks and warranty options.
Latin America and India had the fastest growing economies, with 29 percent and 25 percent growth rates, respectively. The ‘Right to Repair movement’ appears to be gaining traction in Europe, the United States, and Japan. As a result, more refurbishment companies enter the market.
“Refurbished smartphones are a subset of overall pre-owned devices. That re-enter the system in a variety of ways,” Senior Analyst Glen Cardoza explained. “Trade-ins are the fastest-growing source of such pre-owned cellphones, with global volume increasing by more than 10% in 2021. In developing areas such as China, India, Latin America, we are seeing an increase in volumes year over year. These markets will continue to expand because there are many unorganized enterprises. A big rural demographic that has yet to be reached. As 4G devices retained their worth, ASPs (average selling prices) of reconditioned cellphones grew marginally. Refurbished smartphones are becoming increasingly popular.
Andriod Refurbished smartphones
“The US and EU secondary markets bounced back in 2021,” said research director Jeff Fieldhack. New Apple and Samsung flagship sales soared in the United States, resulting in higher volumes of collected devices at carriers and other distribution channels. In terms of consumption, the use of CPO (certified pre-owned) gadgets as insurance replacements grew in 2021, despite rising insurance attach rates. The consumption of used devices on a B2-B basis has also increased. Government actions in the EU are assisting secondary market sales. Carriers are also attempting to use more second-hand devices in order to meet e-waste reduction goals. Finally, EU markets and collecting companies, such as Back Market and EcoATM, are expanding their footprint.”
Sustainability may play a big role in deciding whether or not to buy a refurbished smartphone, and you don’t have to be an activist to think it’s a good idea to reuse items whenever possible. Another issue could be the rising expense of flagship phones, particularly from Apple, as well as the fact that, due to a general slowdown in hardware innovation, there isn’t as much to differentiate phone generations as there previously was. Refurbished smartphones are becoming increasingly popular.