The market for refurbished and used mobile phones is expected to grow from US$49.9 billion in 2020 to US$143.8 billion by 2031

Refurbished and Used Cell Phones Market

NEW YORK, USA, May 10, 2022 /EINPresswire.com/ — Refurbished & Used Cell Phone Market 2022

The analysis includes the projected valuation and growth rate of the Refurbished and Used Cell Phones market, as per the review by researchers. This Refurbished and Used Cell Phone Market review provides a summary of current market dynamics, barriers, drivers, and parameters, as well as an outlook for important segments. Business growth in different industries is also predicted. The nature of the research also demands a full segmental analysis. The Global Refurbished and Used Cell Phones Market also provides a regional overview covering North America, Latin America, Europe Asia-Pacific, Middle East & Africa with the detailed metrics of the sector at the country level. The report also provides a detailed description of the business strategies used by major players as well as new entrants.

The global market for refurbished and used mobile phones is expected to grow from US$49.9 billion in 2020 to US$143.8 billion by 2031, growing at a CAGR of 10.2% in during the same period.

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Countries like Argentina, Brazil, India, Russia, Mexico, Thailand, Philippines and others are emerging as key markets for refurbished and used cell phones. Consumers in developing countries are price-sensitive and inclined to purchase value-for-money products, a major factor driving the market in Asia-Pacific. The global market for refurbished and used mobile phones is largely unorganized, with few players such as Samsung, Apple, and Lenovo venturing into this space. These factors are expected to fuel the growth of the global refurbished and used mobile phones market.

According to the findings of the report, factors such as government regulations on e-waste and adoption of refurbished and used mobile phones in institutional and commercial sectors are expected to fuel the growth of the refurbished mobile phones market and second hand. Based on these factors, the global refurbished and used mobile phones market is expected to grow at a CAGR of 10% during 2019-2029.

Key players:

The report has profiled some of the important players prevailing in the world such as – Apple Inc., Samsung Electronics., Lenovo Group Limited, Amazon, Redeem UK Ltd., Reboot, FoneGiant.com, Synergy Telecom Inc., NIPPON TELEPHONE INC. , Verizon Communications, Inc., togofogo, Hutchison 3G UK Limited, BestBuy.com, LLC, AT&T Inc., Green Dust Pvt. Ltd., Kempf Enterprises Ltd. and more.

This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future prospects of Refurbished Cell Phones and second hand.

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Key Takeaways from Refurbished and Used Mobile Phones Market Research

Refurbished and second-hand mobile phones are adopted by various startups, industries, institutes, and business offices to save costs.
Lack of sales and distribution channels limit the growth of refurbished and used mobile phones market
PMR reports that the demand for mid-priced branded refurbished and used cell phones is expected to grow at an impressive CAGR during the forecast period.
Compared to other regions, sales of refurbished and used mobile phones are expected to be high in the Asia-Pacific region. Significant market potential exists in APEJ countries, such as China and India.
The trend of selling old phones for coupons on new purchases attracts consumers, making the consumer segment dominate the market.
“Electronic waste comprises complex mixtures of materials, which have a negative impact on the environment. Therefore, mobile players should focus on recycling and reusing old products to maintain a sustainable environment and reduce e-waste,” explains the PMR analyst.

Smartphone players entering the refurbished and used phones sector

Key players such as Apple Inc, Samsung Electronics and Lenovo are now also focusing on selling refurbished and used mobile phones in the market.

The report provides valuable company-level insights and focuses on the business and marketing strategies of players in emerging markets. Major market players profiled in the report are Apple Inc, Samsung Electronics, Lenovo Group Limited, and Amazon. Tier I participants in the refurbished and used mobile phone market hold 50-60% of the market share. Product innovation has been the mainstay of the refurbished and used mobile phone market to improve market presence and end-user experience.

In January 2019, Apple Inc. added refurbished iPhone X Plus models to its website. Apple has started selling refurbished iPhone Xs in all three storage capacities, including 64GB for US$679 and 256GB for US$809.
August 2019 saw the launch of the refurbished Note 9, Note 10 and Note 10+ smartphones.

Main stakeholders:

Refurbished and Used Cell Phones Market Manufacturers
Distributors/Traders/Wholesalers of Refurbished and Used Cell Phone Market
Refurbished and Used Cell Phones Market Subcomponent Manufacturers
industry association
Downstream Suppliers

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Answers to key questions in this report:

What will be the growth rate of the market in the future?
What are the key factors driving the global market?
Who are the major manufacturers in the Market space?
What are the opportunities and threats faced by the vendors in the global industry?
What are sales, revenue, and price analysis by industry regions?

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