The rising demand for cost-effective mobile handset solutions and other major driving factors is expected to favor the rise in the global refurbished smartphone market
Reports and Insights has published a new report titled, “Refurbished Smartphones Market: Opportunity Analysis and Future Assessment 2022-2030”
Global Refurbished Smartphone Market, By Grade (Grade A, Grade B, Grade C), By Pricing Range (Less than $200, $200-$500, More than $500), By Operating System (Android, IOS, Others), By Sales Channel (Online Channel, Offline Channel) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2022 and 2030.
The term ‘refurbished phone’ by and large alludes to a pre-owned handset that has been returned back by the original owner because of a fault and has been fixed for resale. Refurbished smartphones are basically an economical solution for consumers looking to save money whilst getting hands on a smartphone. It is significant to note that the refurbished smartphone has had a previous owner but, differing from a second-hand phone traded by an individual, it is marketed by a network, manufacturer or retailer who will have fixed it, run checks and guaranteed that it is a definite standard.
Refurbished phones are time and again put into quality-determined levels when they are marketed, so one is aware what quality to expect. Refurbished smartphones are considered to be one of the most cost-effective options for both businesses and consumers. Attributing to which, the demand for refurbished and used mobile phones has increased at a rapid pace all around the world in the form of economical and affordable second-hand smartphones. Thus, the global refurbished smartphone market is projected to grow rapidly over the following years.
In addition to that, the soaring number of government regulations all around the world with regard to e-waste and adoption of refurbished mobile phones in commercial and institutional segments is further projected to offer major breakthroughs to the growth of the global refurbished smartphone market in the forthcoming years.
Moreover, the growing demand for smartphones in each subdivision of society as well as increasing focus on recycling products by the leading mobile phone manufacturing companies is further estimated to play a major role in accelerating the growth of the global refurbished smartphone market in the coming years.
Reports and Insights Study identifies some of the key participating players in the refurbished smartphone market globally are Apple Inc., Samsung, Reware Mobile, Back Market, Walmart, Amazon Renewed, Vodafone Limited, Corporate Mobile Recycling Ltd., Giffgaff Limited, Currys Retail Ltd., among others.
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