Refurbished Smartphones Market

Refurbished Smartphones Market Overview

The report is titled as ‘Refurbished Smartphones Market: Opportunity Analysis and Future Assessment 2022-2030’. An overview of conceptual frameworks, analytical approaches of the Refurbished Smartphones market is the main objective of the report, which further consists the market opportunity and insights of the data involved in the making of the respective market. Refurbished Smartphones market is expected to grow with significant rate in the near future.

In 2020, global refurbished smartphones market was valued at US$ XXX Mn and expected to grow significantly at a CAGR of XXX % over the forecast period

Refurbished Smartphones Introduction

The mobile phone handsets are continually being upgraded with new and innovative features and smooth and slick styles. But possessing oneself of a new smartphone can cost one a massive price tag, whether one purchases the handset out-and-out or is bound into a contract. Having said that, one alternative to hold the costs down whilst getting hands on a new handset is to go for a refurbished phone.

A refurbished phone can be understood as a mobile phone handset which 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.

Notably, a refurbished mobile handset may have been reverted by a consumer who may have changed their plans within a cooling-off period after buying. It is also likely to have been defective and reverted for repairs, or sold back to the company before an upgrade.

In present times, businesses and consumers and businesses are seeking to save costs when purchasing smartphones. In such circumstances, refurbished and used smartphones are cost-effective options for both businesses and consumers. Therefore, the global refurbished smartphone market is projected to witness significant growth over the coming years.

Refurbished Smartphones Market Segmentation

The global refurbished smartphones market is segmented on the basis of grade, pricing range, sales channel, operating system, and region.

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

By Region

North America

 Latin America

Europe

Asia Pacific

 Middle East

 Africa

Refurbished Smartphones Market Key Players

Some of the key participating players in global Refurbished Smartphones market are:

Apple Inc.

Samsung

Reware Mobile

Back Market

Walmart

Amazon Renewed

Vodafone Limited

Corporate Mobile Recycling Ltd.

Giffgaff Limited

Currys Retail Ltd.

Factors that are benchmarked while estimating the market

Various factors that are benchmarked while estimating the market growth includes (but not restricted to):

New product designs and launches

Current product compliance

Reimbursement

Concerns for use of Refurbished Smartphones

Advantages of Refurbished Smartphones

Actions taken by the manufacturer and respective regulatory authorities also impact the market growth of the segment. These factors are understood at regional level and in major countries globally for providing regional insights of the product segment in the report. This helps our clients to take informed decision.

A mix of top-down and bottom-up approach is followed to arrive and validate our market value estimations. For a product segment like wherein one/two manufacturer(s) dominates the market, it’s product sales, previous growth rates and market expansion plans are considered to generate market share in the market.