Refurbished Smartphone Market Updates

Skyquest Technology's expert advisors continuously track and analyze the latest developments and updates related to refurbished smartphone market. Our team of analysts stay abreast of all the recent news stories shaping the industry including new product launches by major companies, strategic partnerships, M&As, Patent filings and industry and regulatory developments.

Refurbished Smartphone Market News

in Refurbished Smartphone Market
  • In September 2024, Back Market marked its 10th anniversary by launching new features and partnerships to promote refreshed interest in second-hand devices. It also emphasized the eco-friendly aspects of refurbished phones as using 91% less raw materials and producing 89% less e-waste compared to new devices. Such initiatives can turn refurbished devices into a mass product for customers.
  • In August 2024, UK-based firm Reboxed offered significant discounts on used smartphones, such as reductions of the Google Pixel 8 to £419, which was below its street price of Euro 1,049. Such prices make luxury smartphones accessible to consumers from a broad base, encouraging them to switch to refurbished ones. Reboxed's approach appeals to customers seeking quality devices with reduced prices.
  • In May 2024, eBay released its Recommerce Report, giving an overview of global trends within the refurbished and resale markets. The report highlighted the growing relevance of recommerce to eBay's marketplace and to the broader market, with particular attention to sustainability and the circular economy. eBay continues to ensure quality-checked refurbished products with guarantees are available to environmentally conscious consumers.
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Global Refurbished Smartphone Market size was valued at USD 324.69 Million in 2023 and is poised to grow from USD 349.40 Million in 2024 to USD 628.27 Million by 2032, growing at a CAGR of 7.61% in the forecast period (2025-2032).

The global refurbished smartphone market is highly competitive with big OEM brands such as Apple and Samsung. It also includes third-party refinishers such as Amazon Renewed and Back Market. In addition, traditional retail stores such as Best Buy Outlet, and internet marketplaces such as eBay and Swappa are in the market. 'Apple Inc.', 'Samsung Electronics Co., Ltd.', 'Amazon.com, Inc.', 'eBay Inc.', 'Back Market (France)', 'Reboxed (UK)', 'Swappie (Finland)', 'Decluttr (USA)', 'Cashify (India)', 'Refurbed (Austria)', 'Flipkart (Renewed by Flipkart) (India)', 'Best Buy Co., Inc.', 'AT&T Inc.', 'Trocafone (Brazil)', 'Renewgo (UAE)'

As compared to brand-new handsets, refurbished smartphones offer dramatic price cuts, and this is one of the reasons why they are so sought after by people who care about saving money. In the case of the upcoming world, where a significant section of the population is eager to buy great phones at cheaper rates, the price factor is extremely attractive. As a result of the price difference, demand for refurbished smartphones has picked up in the market since an increasing number of customers are considering them as a viable option compared to the costly new tech products.

More Adoption in Emerging Markets: As the number of people using smartphones in developing countries continues to rise, refurbished smartphones are becoming increasingly popular since they are more affordable and meet higher quality requirements. The need for smartphones that are within a reasonable price range is growing in countries such as Africa, Latin America, and some parts of Asia. Refurbished smartphones provide a solution that is cheaper for clients who are price conscious.

How Refurbished Smartphones are Gaining Popularity in North America?

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Global Refurbished Smartphone Market
Refurbished Smartphone Market

Report ID: SQMIG45I2284

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