A new recent report from Counterpoint Research reveals Apple is leading the 2021 refurbished smartphone market.
In addition, the refurbished or reconditioned smartphone market in 2021 is also reported to experience greater growth than the new smartphone market in the same year.
Refurbished itself is a smartphone that is recalled and repaired by the company because it only suffered minimal damage and then resold to consumers.
Launching from Gizmochina, Monday (25/4/2022) the volume for the reconditioned smartphone market experienced a year-on-year (YoY) growth of 15% in 2021. This figure is much higher than last year's 4.5%
According to a Counterpoint report, this is due to new smartphones being launched at a higher price than refurbished models.
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The refurbished market is also growing thanks to the exchange programs people have when they buy a new device. Globally during 2021, the trade-in program grew by more than 10%.
The market is growing rapidly in the Latin America region which grew by 29% and India by 25%. Then followed by the US region with 15% growth, Southeast Asia 12%, China and Europe 10%, and finally Africa 4%.
While the refurbished smartphone market is soaring, the average selling price also goes up. This is because 4G devices still excel in some areas where 5G is not covered.
Take India for example, the region does not yet have commercial 5G, this can also be the reason people buy refurbished smartphones even if the device is only a 4G model.
