According to a recent study by Counterpoint Research, the refurbished smartphone market grew by 5% in 2022 compared to the previous year. As a reminder, compared to second-hand models, reconditioned devices are checked and possibly "refurbished" by the original manufacturers or specialized companies.
Refurbished smartphones, mature and emerging markets concerned
The demand for these models comes from the “mature” markets of new buyers and from the “emerging” markets of consumers who are increasingly abandoning traditional mobiles in favor of smartphones. iPhones occupy almost half (49%) of this market, and have seen a growth of 16% between 2021 and 2022.
The word to Glen Cardoza of Counterpoint Research
“The global refurbished markets are going through transitions,” explains Counterpoint's Glen Cardoza. Supply remains limited as consumers keep their smartphones longer. At the same time, the demand for 5G is increasing, especially in mature markets such as the United States, Europe and Japan. In 2022, 5G accounted for 13% of global refurbished product sales.”
