The global refurbished smartphone market grew in popularity in 2021 and exceeded expectations. Market analysts report 15 percent year-over-year growth for the refurbished smartphone market, with Apple maintaining its lead as the second-hand mobile device vendor, followed by Samsung.
While refurbished smartphones are part of the smartphone economy achieved through trade-in programs, the 15 percent growth in this class of phones is above the growth of the new smartphone market. New smartphone shipments grew 4.5 percent year-on-year in 2021, while the renewed smartphone market grew 15 percent. According to research by Counterpoint Research, the fastest growing markets for refurbished smartphones include China, India, Latin America, Southeast Asia and Africa. India and the Latin American region, on the other hand, showed the highest growth rates last year and are expected to continue this growth in the next few years.
On the other hand, when we look at the US and EU markets, we see that the sales of refurbished smartphones have increased here as well. Sales increased by 15 percent in the USA, and increased by 10 percent in Europe. While sales of both Apple and Samsung flagships are increasing in the USA, it is noted that Samsung surpassed Apple in the shipments of renewed phones last year. However, Apple still maintains its leadership in this field.
What does refurbished smartphone mean?
Refurbished smartphones are phones that have been taken out of their packaging for various reasons and returned to brands, renewed and re-sold by experts in hardware and software. Refurbished phones, which can be more affordable and guaranteed than the 0 models on the market, are usually returned phones and display devices because they cannot meet customer satisfaction.
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