Used and Refurbished Smartphone Market Trends, Market Share, Industry Size, Growth, Opportunities and Market Forecast – 2022 to 2028

The global used and refurbished smartphone market is anticipated to grow at a significant CAGR of 12.4% during the forecast period (2022-2028). A refurbished phone is returned to the manufacturer due to a defect and has been repaired for resale. Refurbished cell phones are a cost-effective option for buyers wishing to save money on their smartphone purchases.

The growing need for affordable second-hand smartphones has increased the demand for refurbished and used mobile phones. The easy availability of refurbished and used phones through various online/offline sales channels is also contributing significantly to the market growth. Moreover, the economic downturn caused by COVID-19 pandemic had increased the demand for low-cost cell phones to run work-from-home operations.

The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, in order to stay competitive in the market. For instance-

• In January 2022, Yaantra, a reconditioned electronics retailer, was acquired by Flipkart. The corporation expands its capabilities in the digital economy in India as a result of this acquisition. Customers will benefit from this company’s expanded availability of affordable refurbished cell phones. Additionally, the Yaantra team may be able to assist Flipkart in developing capabilities in this area and speeding up its re-commerce expansion goals.
• According to OLX, a consumer-to-consumer online marketplace, demand for used cell phones and laptops had fully rebounded to calendar first-quarter levels. In March and April of 2021, the second wave produced a 14% reduction in demand, but demand fully recovered in May.

Market Coverage

• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Type
  • By Pricing Range
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Competitive Landscape-Samsung Electronics Co., Ltd., Apple Inc., Amazon.com, Inc., Verizon Communications Inc., and AT&T Inc., among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Used and Refurbished Smartphone Market Report by Segment

By Type

• Refurbished Phones
• Used Phones

By Pricing Range

• Low-Price (Less than $200)
• Mid-Priced ($200-$500)
• Premium-Priced(More than $500)