Used and Refurbished Smartphone Market Trends, Market Share, Industry Size, Growth, Opportunities and Market Forecast - 2022 to 2028

The global used and refurbished smartphone market is anticipated to grow at a significant CAGR of 12.4% during the forecast period (2022-2028). A refurbished phone is returned to the manufacturer due to a defect and has been repaired for resale. Refurbished cell phones are a cost-effective option for buyers wishing to save money on their smartphone purchases.

A full report of Used and Refurbished Smartphone Market is available at:https://orionmarketreports.com/used-and-refurbished-smartphone-market/108139/  

The growing need for affordable second-hand smartphones has increased the demand for refurbished and used mobile phones. The easy availability of refurbished and used phones through various online/offline sales channels is also contributing significantly to the market growth. Moreover, the economic downturn caused by COVID-19 pandemic had increased the demand for low-cost cell phones to run work-from-home operations.

The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, in order to stay competitive in the market. For instance-

In January 2022, Yaantra, a reconditioned electronics retailer, was acquired by Flipkart. The corporation expands its capabilities in the digital economy in India as a result of this acquisition. Customers will benefit from this company's expanded availability of affordable refurbished cell phones. Additionally, the Yaantra team may be able to assist Flipkart in developing capabilities in this area and speeding up its re-commerce expansion goals.
According to OLX, a consumer-to-consumer online marketplace, demand for used cell phones and laptops had fully rebounded to calendar first-quarter levels. In March and April of 2021, the second wave produced a 14% reduction in demand, but demand fully recovered in May.

Market Coverage

The market number available for - 2021-2028
Base year- 2021
Forecast period- 2022-2028
Segment Covered-
By Type
By Pricing Range
Regions Covered-
North America
Europe
Asia-Pacific
Rest of the World
·         Competitive Landscape-Samsung Electronics Co., Ltd., Apple Inc., Amazon.com, Inc., Verizon Communications Inc., and AT&T Inc., among others.

Key questions addressed by the report

What is the market growth rate?
Which segment and region dominate the market in the base year?
Which segment and region will project the fastest growth in the market?
How has COVID-19 impacted the market?
Deviation from the pre-COVID-19 forecast
Most affected region and segment
Who is the leader in the market?
How players are addressing challenges to sustain growth?
Where is the investment opportunity?

Global Used and Refurbished Smartphone Market Report by Segment

By Type

Refurbished Phones
Used Phones

By Pricing Range

Low-Price (Less than $200)
Mid-Priced ($200-$500)
Premium-Priced(More than $500)

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Orion Market Reports (OMR) endeavors to provide exclusive blend of qualitative and quantitative market research reports to clients across the globe. Our organization helps both multinational and domestic enterprises to bolster their business by providing in-depth market insights and most reliable future market trends. Our reports address all the major aspects of the markets providing insights and market outlook to global clients.

This release was published on openPR.