The refurbished smartphones market grew by 15% in 2021 compared to the previous year, surpassing the 4.5% growth of the new smartphones market.
Counterpoint Research reports that the refurbished units have gained popularity among consumers and smartphone makers.
The dominance of 5G has led many users to get new devices and this has led to increased sales of refurbished.
Saving money is the main reason why consumers prefer a refurbished to a new model. Indicatively, a refurbished model can be 60% cheaper than a new one.
The regions with the highest growth in the refurbished market are Latin America (+ 29%) and India (+ 25%), while it also developed in more mature markets, such as the USA (+ 15%), Europe (+ 10%). ) and China (+ 10%).
Source: Techblog by techblog.gr.
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