Refurbished and Used Mobile Phones Market : Size, Share & Trends Analysis Report (2018-2032)
Market Overview/Outlook (2022 to 2032)
The global market for Refurbished and Used Mobile Phones is expected to grow between 2023 and 2032 due to factors like affordability for emerging markets, reduced environmental impact, cost savings, and quick replacement for lost or damaged phones.
The Global Refurbished and Used Mobile Phones Market was valued at USD 52.23 Billion in 2022 and is projected to reach USD 116.46 Billion by 2032, registering a CAGR of 8.40% for the forecast period 2023-2032.
Global Refurbished and Used Mobile Phones Market Drivers
• Affordability for Emerging Markets: Used and refurbished cell phones typically have lower prices than new ones. Because of their affordability, they present an alluring option for customers in developing nations who may be on a tight budget but still desire access to cutting-edge smartphones. A sizable section of the populace in emerging markets frequently has lower income levels. Customers in these areas are very price-conscious, so those searching for inexpensive options without sacrificing essential mobile features are drawn to refurbished phones because of their lower price. A greater number of people can access technology and mobile connectivity thanks to affordability. Customers who might not be able to afford new smartphones but still want to take advantage of the features can start using refurbished and used phones.
• Reduced Environmental Impact: Used and refurbished cell phones help cut down on electronic waste. Refurbishing and reselling mobile devices helps them last longer and reduces the number of phones that end up in landfills, which lessens the environmental impact of disposing of electronic waste. The process of producing new smartphones requires the extraction of raw materials, the use of energy, and the utilization of resources like plastics, metals, and minerals. Choosing refurbished phones encourages the reuse of current devices rather than the creation of new ones, which helps conserve these resources. Electronic device manufacturing, which includes the production of smartphones, uses a lot of energy.
• Cost Savings: Refurbished and used cell phones appeal to consumers on a tight budget or looking for less expensive options. Students, young professionals, or those on fixed incomes who value having a working smartphone without having to pay the higher prices of new devices may fall into this category. Phones that have been refurbished provide a good mix of price and features. Customers view them as a way to save money and get a dependable smartphone for a small portion of the price of a brand-new one. Those who might not otherwise be able or willing to invest in a new device have an easier time entering the market thanks to the lower price point of refurbished and used mobile phones. This broadens the market's target demographic.
• Quick Replacement for Lost or Damaged Phones: It can be expensive to buy a new phone when customers misplace or break their old ones. Used and refurbished cell phones offer a more affordable option. These phones are less expensive, so people can easily replace their broken or lost phones without having to worry about breaking the bank. Used and refurbished cell phones are widely accessible in the market. This prompt availability is essential for people who require a replacement gadget immediately. Without having to wait for the release of new models or deal with the hassles of placing an order for a new phone, consumers can locate a suitable substitute. Users may experience downtime while they wait for a new phone to be shipped or deal with drawn-out repair procedures.
Global Refurbished and Used Mobile Phones Market – Merger and Acquisitions
Walmart launched the in-store pilot program to sell refurbished iPhones (2022)
Walmart launched the in-store pilot program to sell refurbished iPhones, iPads, and other Apple devices in approximately 30 of its physical locations. Participating stores sell goTRG-certified refurbished Apple products with a one-year warranty.
Fair Phone, a Dutch social enterprise, began selling refurbished smartphones (2021)
Fair Phone, a Dutch social enterprise creating a market for ethical smartphones, began selling refurbished smartphones, the Fair Phone 3, New Life Edition, through its website to encourage smartphone longevity, reduce e-waste, and conserve precious resources.
The iPhone 12 and iPhone 12 Pro models were introduced to Apple's official Certified Refurbished store. (2022)
the iPhone 12 and iPhone 12 Pro models were introduced to Apple's official Certified Refurbished store. A new battery, a new outer shell, authentic Apple part replacements (if necessary), and a one-year warranty are included with products purchased from Apple's Certified Refurbished store.
