As the global smartphone market gradually becomes saturated, coupled with the ups and downs of the new crown epidemic, leading to economic downturn, more consumers choose to reduce the number of mobile phone replacements, which means that the cycle of buying new mobile phones has been extended. In addition, some used smartphones that still maintain a good level of performance and appearance are favored by consumers. According to Wccftech, the global refurbished smartphone market was welcomed by consumers last year, up 15% year-on-year, with Apple being the largest player in the space, followed by Samsung, and also narrowing the gap between the two.
The so-called refurbished machines also include a trade-in program, which happens to be a major source of used smartphone inventory growth. In 2021, global smartphone shipments continue to grow, with data showing a year-on-year increase of 4.5%, while the refurbished machine market has a year-on-year growth rate of more than three times that of 15%. According to Research Research, the popularity of refurbished devices is related to the increasing pricing of flagship smartphones, and consumers are more willing to choose mid-to-high-end products of brands such as Apple or Samsung on refurbished machines.
Markets with faster refurbished machine growth include China, India, Latin America, Southeast Asia and Africa, with India and Latin America having the highest growth rates and are expected to maintain high growth in the coming years. Even in Europe and the United States, sales of refurbished machines rebounded last year, with growth coming from some flagship models of Apple and Samsung, and officially certified second-hand products allow consumers to buy this type of equipment with more peace of mind.
Samsung's refurbished shipments grew faster than Apple's last year, driven by more trade-in offers and more giveaways. With Samsung's continued efforts, it is expected that the growth rate of shipments this year will still be higher than apple. In addition, apple and Samsung have further opened the door to third-party repairs, providing original accessories, tools, and repair guides, etc., and these initiatives are likely to continue to drive the growth of the refurbished machine market.