The worldwide refurbished smartphone market noticed a 15 per cent (on-year) development, led by Latin America and India, and Apple maintained its lead within the secondary market as Samsung inched nearer, a brand new report confirmed on Wednesday.
With new flagship smartphone costs remaining on the greater finish, a bigger share of shoppers thought of shopping for refurbished fashions of well-liked manufacturers like Apple and Samsung, says Counterpoint Analysis’s ‘International Refurb Smartphone Tracker’.
“Commerce-ins are the fastest-growing supply for such pre-owned smartphones, the amount of which grew greater than 10 per cent globally in 2021. We’re seeing a YoY enhance in volumes amongst refurb gamers in growing markets like China, India, Latin America, Southeast Asia and Africa,” stated senior analyst Glen Cardoza.
These markets will develop extra as they’ve many unorganized companies and a big rural demographic but to be captured.
Latin America and India lead with the best development charges, at 29 per cent and 25 per cent, respectively.
“There have been provide shortages within the secondary market in 2020 as a consequence of COVID-19 lockdowns and different provide chain disruptions. However the market roared again in 2021,” stated analysis director Jeff Fieldhack.
There are massive client appetites for flagships and the most recent flagships have the best point-of-sale costs in India and LATAM.
“The secondary market presents shoppers the flexibility to entry these gadgets at ASPs 60 per cent decrease than new variations. The improved sturdiness and prime quality of flagships make them very interesting within the secondary market,” Fieldhack added.
Protecting sustainability in thoughts, some OEMs have began promoting and assuring all stakeholders about their sustainable practices, proper from sourcing and manufacturing to the top of machine lifecycle.
“That is an ongoing set of initiatives that can collect extra steam within the coming quarters. OEMs must steadiness the price of sustainability with their revenue,” the report famous.
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