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In 2021, the Global Refurbished Smartphone Market Increased by 15% Year-on-year, and Apple Ranked first

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Update time : 2022-05-27 10:16:59
        A new report from Counterpoint Research shows that Apple is the market leader in refurbished mobile phones in 2021. In addition, it is reported that the growth rate of the global refurbished smartphone market in 2021 exceeded that of the new smartphone market in 2021
        In 2021, the global sales of refurbished smartphones increased by 15% year-on-year. This is much higher than the 4.5% of new smartphone shipments last year. According to the report of Counterpoint, this is because the new smartphone is launched at a higher price, making buyers choose refurbished models.
        The refurbishment market is also growing, thanks to the exchange of old for new equipment when people buy new equipment. By 2021, the global trade in has also increased by more than 10%.
        Markets in Latin America and India are growing rapidly. The Latin American market grew by 29%, while the Indian market grew by 25% in 2021. This was followed by 15% growth in the United States, 12% growth in Southeast Asia, 10% growth in China and Europe, and 4% growth in Africa.
        While the refurbished mobile phone market is soaring, the average selling price of refurbished equipment is also rising. This is because 4G devices in some regions still maintain their value because 5G services do not exist. In India, for example, there is no commercial 5G in the region, which may be one reason why people buy refurbished equipment, although these devices are 4G only models. 
 
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