Government initiatives to promote digital infrastructure have resulted in increased sales of used smartphones in Malaysia: Ken Research

Focused Government initiatives, increase in the upgrade cost and delayed availability of new handsets owing to supply chain constraints during the COVID-19 pandemic boosted the growth of the Used Smartphone Market in Malaysia.

Malaysia Used Smartphone Market Overview: The Used Smartphone Market in Malaysia is currently at the growing phase and is a highly fragmented market. The market has been driven by increasing smartphone and internet penetration along with digital transformation due to the adoption of 5G network, high proportion of low- to mid-income consumers and rising prices of new smartphones. The Malaysia Used Smartphone Market grew from nearly 13% in 2016 to about 15% in 2021 in terms of revenue generated, due to the growing demand for Used Smartphone in the country.

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Challenges Faced by Malaysia Used Smartphone Market: Improper pricing strategy and vulnerability to malware and hacking issues are some of the major challenges of this industry. With no standardized approach and the industry being at a nascent stage, consumers have to pay for the fluctuating prices. Malaysia has frequent price-drop periods throughout the year which pose another challenge to the frequency of sales. Over the years, shoppers have been trained to wait for price-drops. Thus, instead of buying used smartphones, they can get new ones during the same period.

Supportive Government Initiatives: The Malaysian government launched the MyDIGITAL initiative as a part of the Malaysia Digital Economy Blueprint. This initiative is a part of the government's plan to transform Malaysia into a digitally driven, high-income nation and a regional digital economy leader by 2030. With this initiative, the Used Smartphone Industry in Malaysia is gaining traction as majority of the services are expected to go digital, which will require devices that can access the internet.

Covid-19 Impact on the Malaysia Used Smartphone Industry: The growing digitization, virtual classes, remote working, virtual socialization during Covid-19 pandemic led to smartphones being an indispensable part of life. Digital solutions required compatibility of devices with the cutting-edge technology, and it became a driving factor for the rise in sales in the smartphone market. However, the pandemic has caused a hike in average selling prices of new smartphones due to various factors such as disproportionate supply and demand, inefficient supply chain, a decline in shipping due to travel restrictions, and fewer new launches. During this period, people were looking for more sustainable options which led to the acceleration of sales of Used Smartphones in Malaysia.

Analysts at Ken Research in their latest publication "Malaysia Used Smartphone Market Outlook to 2026F- Driven by increasing prices of new smartphones, greater environmental awareness and Government initiatives like adoption of 5g network" by Ken Research observed that Malaysia Used Smartphone Market is in the growing phase. Increasing smartphone penetration, rising awareness to reduce electronic wastes, high proportion of low to mid-income consumers, increasing prices of new smartphones and adoption of 5G network are some of the factors that will contribute to the growth of the Malaysia Used Smartphone Market over the period of 2022F-2026F. It is expected that Malaysia Used Smartphone Industry will grow at a CAGR of 14.9% for the above forecasted period.

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https://www.kenresearch.com/consumer-products-and-retail/consumer-electronics/malaysia-used-smartphone-market-outlook-to-2026/596249-95.html

Key Segments Covered: -
By Distribution Channel
• Unorganized
• Organized

By Marketing Channel
• Offline Dealers
• Classified
• Online Marketplace

By Source of Lead Generation
• Dealership Walk-ins
• Online

By Sourcing Medium
• Retail Customers
• Businesses
• Telephone Operators
• OEM's

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By Type of Sales
• B2C
• C2C

By Brand of Smartphones
• Apple
• Samsung
• Xiaomi
• Others

By Age of Smartphones
• 0-12 months
• 12-24 months
• 24-36 months
• 36-48 months
• >48 months

By Price of Used Smartphones
• Lower end phone
• Mid-range phone
• Upper end phone
• Premium phone

By Purchase across Major Cities
• Kuala Lampur
• Seberang Perai
• Petaling Jaya
• Others

By Type of Network
• 2G
• 3G
• 4G
• 5G

By Battery Capacity
• 5000 mAh

By Operating System
• Android
• iOS
• Others

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By Screen Size
• 5.5 inch

Key Target Audience
• Smartphones companies
• Network Providers
• Government Bodies and Regulatory Authority
• Fintech Companies
• Investors and Financiers
• Smartphones Service Providers
• Cell Phones Industries
• Venture Capitalist
• Smartphones Manufacturers
• Existing Cell Phone Companies
• New Market Entrants

Time Period Captured in the Report:
• Historical Period: 2016-2021
• Base Year: 2021
• Forecast Period: 2022F- 2026F

Companies Covered:
Online Marketplaces
• Lazada
• Shopee
• CompAsia
• PG Mall
• Mudah.my
• Amazon.com
• Facebook marketplaces
• Halomobile
• Takumiko
• Alibaba
• Harvey Norman
• Allo Allo

Offline Players
• Factory Mobile Dataran Austin
• SG World & Finance
• Mobile Wholesale City
• Berry Nice Enterprise
• SS Solution
• Sam Digital Enterprise
• Machines Suria KLCC Apple Premium Reseller Store
• nextfone
• APR Electronic Services Sdn. Bhd.

Classified Platforms
• Kaskus
• Carousell
• OLX
• Adpost
• Adsglobe
• Free Ads Time

Omnichannel Players
• Apple
• Xiomi
• Huawei
• Samsung
• Oppo
• Oneplus
• Vivo
• RealMe

Key Topics Covered in the Report
• Malaysia's Smartphone User Landscape
• Malaysia Used Smartphone Market Analysis
• Ecosystem of Malaysia Used Smartphone Market
• Malaysia Used Smartphone Industry Market Size
• Malaysia Used Smartphone Industry Market Segmentation
• Value Chain Analysis of Malaysia Used Smartphone Market
• Business Cycle and Genesis of Online Players in Malaysia Used Smartphone Market
• Competition Scenario of Malaysia Used Smartphone Market
• Malaysia Used Smartphones Market Size Future Outlook and Projections
• Issues and Challenges in the Malaysia Used Smartphone Market
• End User Analysis of Malaysia Used Smartphone Market
• Industry Analysis of Malaysia Used Smartphone Market
• Trends and Developments in Malaysia Used Smartphone Market
• SWOT Analysis on Used Smartphones market in Malaysia
• Growth Drivers of Malaysia Used Smartphone Market
• Government Rules and Regulations in Malaysia Used Smartphone Market
• Impact of Covid-19 on Malaysia Used Smartphone Market

Related Reports by Ken Research: -
https://www.kenresearch.com/consumer-products-and-retail/consumer-electronics/indonesia-used-smartphone-market-outlook/550569-95.html

Ken Research Pvt. Ltd.

Ken Research is a Market Research and Consulting Firm, based out of India, Indonesia and UAE. Since 2011, we have been assisting clients globally with our Syndicate and Bespoke Market Research and Advisory Services.

This release was published on openPR.