Refurbished & Used Smartphone Market Analysis 2023-2033

In 2022, the used phones segment held the largest market share of 54.4% in the global refurbished and used mobile phones market. The used and refurbished smartphone market was valued at 251.09 million units last year.

The market is expected to witness an impressive growth over the forecast period, 2023 to 2033 according to Mordor Intelligence report. The market is driven by improvements in methods of collection, grading, repairing of smartphones , and its online/offline selling.

Table of Contents

I. Market Overview

II. Drivers and Trends

II. Competitive Landscape

IV. Recent Developments

Market Overview

Refurbished smartphones are becoming increasingly popular, with more reputable resellers entering the market and modern consumers favoring high-end mechanical hardware.

The market is estimated to be valued at US$ 55,743.50 Mn in 2023 and is expected to reach US$ 121,288.50 Mn by 2033, registering a CAGR of 8.7%. North America is expected to lead the global refurbished and used mobile phones market, followed by Europe and Asia Pacific.

The market is driven by rising demand for cost-effective alternatives to new mobile phones and growing environmental concerns.

Drivers and Trends

What are the factors propelling the demand for refurbished and used mobile phones sales?

"The demand for used and refurbished smartphones is driven by the increasing acceptance of e-commerce platforms."

The accessibility of smartphones on e-commerce platforms and promotions provided during festivals and summer seasons have attracted new customers. Companies like Flipkart Group and Phixman are also strengthening their recommerce business and offering after-sales services for their customers.

This is helping to drive the demand for used and refurbished smartphones across all centers in India.

End-user adoption of refurbished and used mobile phones has increased in recent years due to several factors which include:

• Cost savings: Refurbished and used phones are significantly cheaper compared to brand new devices, making them accessible to a wider range of consumers.
• Environmental sustainability: The use of refurbished and used phones helps reduce e-waste and promote recycling.
• Improved availability: The increasing demand for refurbished and used phones has resulted in a wider range of options and improved availability.
• Improved quality: Advances in refurbishment processes have improved the quality of refurbished phones, making them more reliable and long-lasting.

Which region has largest share in Used and Refurbished Smartphone Market?

"Asia-Pacific holds highest share in 2021 and Asia Pacific is Expected to Register a Significant Growth Rate"

The Asia Pacific region is one of the significant markets for refurbished smartphones, owing to the highly developing telecom sector and large customer base. Furthermore, the region is increasingly investing in the mobile network.

Countries, like China, India, Japan, Australia, Singapore, and South Korea, are increasingly investing in the development of the domestic telecom market, which is also expected to drive the refurbished smartphones market in the region.

Demand for used and refurbished smartphones at entry-level price point will be driven by demand in developing countries like India and Indonesia, where smartphones are penetrating even to rural areas as local governments are pushing for digital and mobile economy.

Which countries in Asia have the high global CAGR for the Refurbished and Used Mobile Phones Market?

"India Accounts for Second Highest Global CAGR for Refurbished and Used Mobile Phones Market"

India accounts for the second highest global CAGR for the refurbished and used mobile phones market, with a predicted CAGR of 9.1%.

Lower prices of the smartphones and the availability of high-quality refurbished mobile phones from local vendors such as Shopzen India are driving the sales of refurbished and used mobile phones in India.

Customers can save money and shop for their desired smartphones and mobile phone accessories from a single platform.

For instance, the Digital India program is a flagship program of the Government of India with a vision to transform India into a digitally empowered society.

According to Cashify’s white paper summary 2021 conducted for the pre-owned smartphone in India, Xiaomi became the top-selling smartphone brand in the pre-owned segment, with a market share of around 26%, followed by Apple with a 20% share in 2020.

Redmi Note 5 Pro was the top smartphone model in the refurbished smartphones 2020 at 21% share, followed by Apple iPhone 6 and Redmi Note 4 at 11%.

Which Factor Is Driving the Opportunity in The US for Wiring Devices Sales?

"The US refurbished and used mobile phones market is driven by the widening scope of 5G smartphones."

The increasing advancements in smartphone features has helped the US account for a dominant share of 17.2% in the global marketplace in 2022.

Companies like Apple have a history of creating cutting-edge smartphones that have altered the dynamics of the global smartphone market, helping to drive the demand for refurbished and used mobile phones in the US market.

Which Countries in Europe Have the High Global Market Share for Refurbished and Used Mobile Phones Market?

"Germany Holds High Global Market Share in Europe Region"

Germany holds a high global market share in the Europe region for the refurbished and used mobile phones market, with a market share of 11.2% in 2022.

Factors such as the rising residual value of mobile phones, expanded options for trading in or partially exchanging current phones, and alluring SIM-only deals are driving the expansion of the refurbished and used mobile phones market in Germany.

This offers chances for new retail players to establish themselves in the Germany refurbished and used mobile phones market.

Which type segment of the Refurbished and Used Mobile Phones Market holds the largest market share?

"Used Phones segment of the smart phone type allows to have the Larger Market Share"

In 2022, the used phones segment held the largest market share of 54.4% in the global refurbished and used mobile phones market.

The high turnover rate for mobile devices and favourable EMI options for mid-range used mobile phones for consumers has resulted in the mid-priced refurbished and used mobile phones ($200-$500) segment holding a large market share of 39.2%.

Why Mid-Priced Refurbished and Used Mobile Phones ($200-$500) Segment Holds a Large Market?

"Favourable EMI options for mid-range used mobile phones for consumers"

In 2022, mid-priced refurbished and used mobile phones ($200-$500) segment is anticipated to account for the largest share of 39.2%, due to favourable EMI options for mid-range used mobile phones for consumers, and the growing middle class in Middle Eastern nations.

The online/e-commerce sales of refurbished and used mobile phones accounts for the highest CAGR for the refurbished and used mobile phones market, as more buy and sell platforms have grown, increasing visibility and competition.

Customers can trade in their old smartphones for a discount on a new device at Amazon, and the devices are backed by a limited warranty from the vendor or manufacturer.

Competitive Landscape

In September 2022: fairphone began selling refurbished smartphones, the fairphone 3, New Life Edition, through its website, and in January 2020, Walmart launched an in-store pilot programme to sell refurbished Apple products with a one-year warranty in around 30 of its physical locations.?

Refurbished and used mobile phones vendors are focusing on diversifying their product portfolios and creating new products and strategic alliances with other vendors in order to satisfy customer demands.

Recent Developments

• May 2022: Phixman partnered with Detel to sell refurbished luxury smartphones at a nominal price with a warranty and all accessories. It also provides services at a reasonable price at all centers within PAN India.
• Apr 2022: Samsung’s Renewed online store enables its customers to own previously purchased and refurbished Galaxy S21 series, added to the pre-owned lineup. The Renewed store offers lucrative deals on relatively new Samsung devices.
• Users who could not afford the S21 range due to initial high prices can now get the devices at a more affordable price. Samsung is offering the product at USD 225.

Used & Refurbished Smartphone Market Research FAQs

1. What is the growth rate of Used and Refurbished Smartphone Market?

The Used and Refurbished Smartphone Market is growing at a CAGR of 10.23% over the next 5 years.

2. Which region has highest growth rate in Used and Refurbished Smartphone Market?

North America is growing at the highest CAGR over 2018 - 2028.

3. Who are the key players in Used and Refurbished Smartphone Market?

Samsung Electronics Co., Ltd., Apple Inc., Amazon.com, Inc., Verizon Communications, Inc., AT&T Inc. are the major companies operating in Used and Refurbished Smartphone Market.

Also Read:

How to Make More Profit in Mobile Repairing Business in 2022?

How to Keep Phone Repair Business Profitable Amid the Raging COVID-19 Pandemic?

About US

China PHONEFIX Shop Team is specialized in offering one-stop supply chain solution for your phone repair business, including mobile phone repair tools kit, Cell phone Components & Accessories, Screen refurbishing machines and Repair Consumables as well as accessories.