The coronavirus, which broke out in 2019, deeply affected dozens of industries. Things did not go well in the smartphone market either. Because of the slowdown in production, supply problems increased and prices rose proportionally. In this process, users buy more second-hand and refurbished smartphone they preferred.
Known for its analysis reports in the mobile industry, Counterpoint Research shared the latest situation in the refurbished smartphone market. Here are the details…
Danger is at hand: Phone prices will become even more expensive than usual!
According to a new study, the average selling price (ASP) of smartphones will reach its highest level in 9 years.
Refurbished smartphone market grew by 15 percent
Counterpoint Research The latest report by the company revealed that refurbished products are becoming commonplace among both consumers and smartphone companies. Accordingly, the market in 2021 compared to the previous year 15 percent grew and during the same period 4.5 ascending surpassed zero smartphone sales.
According to company analysts, the increase in the prices of new smartphones day by day has provided an environment for renewed products to become more widespread. Many manufacturers even tried to attract users with trade-in offers to make new models more attractive. As such, there was a significant increase in the number of refurbished products.
Of course, one of the biggest reasons behind the 15 percent growth of the market is cost savings. The fact that these products are cheaper than the new ones naturally attracts more attention of people. In addition, the markets that achieved the greatest growth in this area were Latin America with 29 percent and India with 25 percent.
shiftdelete.netapplein refurbished product launches at the top while South Korean Samsung if second found its place in the ordinary. However, no data on the sales figures of the companies was shared.
So what do you think about this subject? Do you think the growth in refurbished smartphone sales will continue? Do not forget to share your views with us in the comments section or on the SDN Forum.