Used & Refurbished Smartphone Market by Type (Refurbished Phones, Used Phones), Pricing Range (Low-Priced, Mid-Priced, Premium), Sales Channel - Global Forecast 2024-2030

Used & Refurbished Smartphone Market by Type (Refurbished Phones, Used Phones), Pricing Range (Low-Priced, Mid-Priced, Premium), Sales Channel - Global Forecast 2024-2030

The Used & Refurbished Smartphone Market size was estimated at USD 30.44 billion in 2023 and expected to reach USD 32.43 billion in 2024, at a CAGR 6.83% to reach USD 48.35 billion by 2030.

Used smartphones are devices that have previously been owned and operated by an individual or organization. These devices have not undergone any professional refurbishing process by the manufacturer or a certified third party. Refurbished smartphones, on the other hand, are pre-owned devices that have been thoroughly inspected, repaired, and restored to full working condition by the manufacturer or a reputable third party. This process often includes replacing faulty components, software updates, and thoroughly cleaning. Rising internet connectivity, demand for low-priced smartphones, and the growing popularity of e-commerce platforms increase the adoption of used and refurbished smartphones. However, technical issues and performance concerns regarding used and refurbished smartphones impede market growth. Nevertheless, expanding customer service offerings to include extensive warranties and support services may create potential opportunities for the growth of the used and refurbished smartphone market.

Regional Insights

In the Americas, the demand for used and refurbished smartphones is propelled by consumers looking for cost-effective alternatives to the latest phone models. In addition, a robust trade-in system supported by major carriers and retailers and recent regional investments focuses on expanding refurbishment facilities, encouraging consumers to opt for refurbished units. Europe has a relatively mature market driven by a robust regulatory environment favoring sustainability and consumer rights. Environmentally conscious consumers and stringent EU regulations encourage the adoption of used and refurbished smartphones. On the other hand, the Middle East and Africa showcase a preference for high-end refurbished smartphones due to the presence of affluent consumers, while Africa's demand is driven by economic necessity and the need for affordable connectivity solutions. Moreover, quality and authenticity are key considerations for Middle Eastern customers, which has led to the development of certified pre-owned programs by various retailers. The Asia Pacific region exhibits high growth potential with a massive consumer base seeking affordability and value. Furthermore, investment in the region aims at improving refurbishment quality and expanding the online marketplace for refurbished devices.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Used & Refurbished Smartphone Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

• Rising internet connectivity and demand for low-priced smartphones
• Growing popularity of e-commerce platforms for used and refurbished smartphones
• Adoption of used & repaired phones to reduce e-waste

Market Restraints

• Over-pricing issues and fear of fake products

Market Opportunities

• Technological advancements in smartphone feature
• Emergence of 5G network worldwide

Market Challenges

• Technical issues and performance concerns of used smartphones

Market Segmentation Analysis

• Type: Burgeoning preference for company-owned phones owing to their extended warranties
• Pricing Range: Increasing adoption of mid-priced used and refurbished smartphones
• Sales Channel: Evolving online or e-commerce channels for used and refurbished smartphones

Market Disruption Analysis

• Porter’s Five Forces Analysis
• Value Chain & Critical Path Analysis
• Pricing Analysis
• Technology Analysis
• Patent Analysis
• Trade Analysis
• Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Used & Refurbished Smartphone Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Used & Refurbished Smartphone Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

ReFit Global Announces A New Marketplace For Pre-Owned Smartphones To Offer Premium Refurbished Phones At Affordable Prices

ReFit Global launches its direct-to-consumer platform, RefitGlobal.com, for used and refurbished smartphones. This strategic move guarantees customers access to an array of top-tier brands, such as Apple, Samsung, OnePlus, Xiaomi, and Vivo, with up to 50% discounts.

Nokia Plans To Start Selling Refurbished Smartphones From H2 2023

Nokia unveiled its latest initiative to sell remanufactured Nokia phones. This new effort is part of a comprehensive environmental sustainability strategy to reduce electronic waste and promote a circular economy. This move underscores the company's commitment to sustainable practices by continuing its extensive tree-planting efforts and venturing into repurposing its mobile devices for resale.

Cashify To Introduce ‘Try And Buy Option’; Consumers Can Book A Trial Before Buying Refurbished Smartphone

Cashify, introduced 'Try and Buy' feature that allow customers to test devices prior to purchase, thereby reducing apprehensions about pre-owned electronics. This strategic move underscores Cashify's dedication to combining quality service with environmental and economic consciousness.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Used & Refurbished Smartphone Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Used & Refurbished Smartphone Market, highlighting leading vendors and their innovative profiles. These include Alibaba Group Holding Limited, Amazon.com, Inc., Apple Inc., AT&T Inc., Back Market, Best Buy Trade-In, BuySPRY / YRS LLC, Cashify, Chinarephone.com, Decluttr, Dreven Holdings Group Inc., eBay Inc., Gazelle, hyperXchange, ISELLMAC.COM, Mobex, Mobile Monster, One97 Communications Ltd., Qarmatek Services Private Ltd., Quick Mobile LLP, Quikr India Pvt. Ltd., Reboxed Ltd.,, Recell Cellular, Samsung Electronics Co., Ltd., Smart Cellular, Swappa, LLC, The Whiz Cells by TM Capital LLC, and Verizon Communications, Inc..

Market Segmentation & Coverage

This research report categorizes the Used & Refurbished Smartphone Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type

• Refurbished Phones
• Company-Owned
• Consumer-Owned
• Used Phones
• Buybacks
• Trade-Ins
• Pricing Range
• Low-Priced
• Mid-Priced
• Premium
• Sales Channel
• Offline
• Online or E-Commerce

Region

• Americas
• Argentina
• Brazil
• Canada
• Mexico
• United States
• California
• Florida
• Illinois
• New York
• Ohio
• Pennsylvania
• Texas
• Asia-Pacific
• Australia
• China
• India
• Indonesia
• Japan
• Malaysia
• Philippines
• Singapore
• South Korea
• Taiwan
• Thailand
• Vietnam
• Europe, Middle East & Africa
• Denmark
• Egypt
• Finland
• France
• Germany
• Israel
• Italy
• Netherlands
• Nigeria
• Norway
• Poland
• Qatar
• Russia
• Saudi Arabia
• South Africa
• Spain
• Sweden
• Switzerland
• Turkey
• United Arab Emirates
• United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year