Used and Refurbished Smartphone Market Overview
The global used and refurbished smartphone market was valued at 251.09 million units in 2021, and it is expected to reach 459.86 million units by 2027, registering a CAGR of 10.23% between 2022 and 2027. Multiple product launches in the premium smartphone segment, more brand options, new price points, and the overall aspirational value of an upgraded smartphone are some of the significant factors rapidly driving the second-hand smartphone industry to increase its market in multiple geographies globally. An increase in the upgrade cost has been one of the prominent reasons for the market’s growth. An increase in the prices of premium smartphones led to multiple consumers holding on to their phones much longer than expected. However, at the same time, this factor also raised the average selling price of a pre-owned device.
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Key Highlights of the Used and Refurbished Smartphone Market
Used and Refurbished Smartphone Market – Geographical Overview
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List of Key Players in the Used and Refurbished Smartphone Market
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Mordor Intelligence has segmented the Used and Refurbished Smartphone Market based on geography:
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