Used and Refurbished Smartphone Market Size
| Study Period | 2019 - 2029 |
| Market Volume (2024) | 349.40 Million units |
| Market Volume (2029) | 504.10 Million units |
| CAGR (2024 - 2029) | 7.61 % |
| Fastest Growing Market | North America |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Used and Refurbished Smartphone Market Analysis
The Used And Refurbished Smartphone Market size in terms of shipment volume is expected to grow from 349.40 Million units in 2024 to 504.10 Million units by 2029, at a CAGR of 7.61% during the forecast period (2024-2029).
The used and refurbished smartphone market has surged globally, providing affordable alternatives for budget-conscious consumers. Driven by cost-effectiveness and environmental worries, this market offers renewed or pre-owned devices, extending product life cycles and contributing to a sustainable tech ecosystem.
- 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 significant factors rapidly driving the second-hand smartphone industry to increase its market in multiple geographies globally.
- The significant increase in disposable incomes and the rise in online gaming have been major reasons consumers adopt premium smartphones. Technological advancement has increased the demand for upgraded specifications over the years. However, such specifications come with higher costs, and consumers often tend to exchange their existing smartphones with upgraded used or refurbished premium models against lucrative buyback value.
- With the increasing amount of e-waste being dumped in landfills, the network operators are venturing into new effective strategies to increase their subscribers, especially in rural areas, by offering connectivity and low-budgeted smartphones. Countries such as India have been one of the major markets driving the secondary smartphone market around the globe, witnessing several major developments in the past few years.
- The market witnessed a stagnant market due to decreased disposable income and cash in hand among the customers due to rising inflation in developed and developing economies. As a result, the trade-in volume decreased, affecting the secondary market of smartphones. In addition, major markets for refurbished and used smartphones, such as India, have witnessed a substantial decrease in smartphone sales in the past few quarters, thus further hindering the growth of the market.
- The outbreak of COVID-19 led to a movement toward studying and working from home. The trend shifting toward work from work steadily rose over the past decade. However, the effect of COVID-19 dramatically accelerated this trend in an extremely short period, forcing enterprises, irrespective of their size, to quickly adapt to the self-isolation measures governments worldwide were recommending.
Used and Refurbished Smartphone Market Trends
Growing Popularity of E-commerce Platforms for Used and Refurbished Smartphones to Drive the Market
- The growing popularity of e-commerce platforms for used and refurbished smartphones may be attributed to several factors. Consumers are increasingly seeking cost-effective alternatives to new devices, and these platforms offer more affordable options. The rise of environmentally conscious consumers has fueled interest in extending the lifespan of electronics by purchasing pre-owned devices. The convenience of online transactions and the ease of comparing prices and conditions further contribute to the appeal of e-commerce for used smartphones.
- According to Monetate, global consumers spend the most money on online purchases made through mobiles. Between July 2022 and September 2023, the average order value from mobile purchases peaked in April 2023. Shoppers spent an average of USD 105.45 on online orders that month.
- As e-waste is the global fastest-growing solid-waste stream, rising at a rate three times faster than general waste in the country such as Australia, the market sentiments have transferred over to buying refurbished smartphones, which have grown traction among several players like Boost Mobile, Cole's, and Phoenix Cellular.
- The global online retailer Amazon has a dedicated section for refurbished devices. Users can easily sell their old smartphones to Amazon in exchange for a discount on a new gadget. In addition, the business inspects them and makes the mandatory repairs to make them seem and function like new ones. These devices are then sold in the refurbished sector and backed by a vendor or manufacturer's limited warranty.
- There is also a category called manufacturer reconditioning, which distinguishes itself from fixes performed by local repair companies. Like original equipment makers, the manufacturer repairs the phone with original components, confirms its functionality, and renews it in a "like new" state. Most people look for such phones, and customers prefer refurbished smartphones.
- The supply chain issues and chip shortages are also helping propel the refurbishing sector forward. Organizations are turning to refurbished electronics suppliers to meet this requirement, which is anticipated to augment the refurbished electronics industry, particularly smartphones.
North America Expected to Witness Significant Growth in the Market
- The rising advancements in smartphone features and the increasing scope of the 5G smartphones are some of the major factors augmenting the growth of the North American used and refurbished smartphone market. The United States is among the advanced markets for smartphone vendors globally. The entire region has a history of developing innovative smartphones, mainly with vendors like Apple, that have transformed the smartphone market dynamics.
- The growth in North America's used and refurbished smartphone market may be attributed to several factors. Consumers are becoming more cost-conscious, seeking affordable alternatives to new devices. The availability of certified refurbished phones provides a reliable and budget-friendly option.
- As per Walmart, in the United States, as of September 2023, many refurbished smartphones were available at Walmart. The iPhone 11 (64GB) was the best-selling reconditioned smartphone, costing around USD 264. The Samsung Galaxy G998U S21 Ultra (128GB) ranked second and sold for USD 365.
- As per GSMA, North America surpass 1 billion 5G connections by 2022 and 2 billion by 2025, mainly driven by continued network investments from operators and the expanding range of 5G smartphones at varying price points. North America will have become the first region where 5G accounts for more than 50% of total connections by 2025.
- To reduce electronic waste, the US Environmental Protection Agency (EPA) has been conducting the Sustainable Materials Management Electronics Challenge, which encourages brand owners, electronics manufacturers, and retailers to strive to send 100% of the used electronics they collect from businesses, the public, and within their organizations to third-party certified electronics refurbishers and recyclers.
- Environmental concerns also play a role, as more individuals opt for refurbished devices, contributing to reduced electronic waste. Improvements in refurbishment ensure that these devices meet high-quality standards, addressing previous concerns about reliability.
- Overall, the increased awareness of manufacturers' and retailers' benefits and effective marketing strategies have contributed to the rising popularity of used and refurbished smartphones in North America. This trend is likely to continue as consumers prioritize sustainability and affordability in their purchasing decisions.
Used and Refurbished Smartphone Industry Overview
The competitive rivalry amongst the used and refurbished smartphone providers is very high, owing to the presence of various smartphone brands across the globe. Some major players in the market are Samsung Electronics Co. Ltd, Apple Inc., Amazon.com Inc., Verizon Communications Inc., and AT&T Inc. The demand for refurbished smartphones has spiked in recent years due to the massive smartphone penetration across developing countries. Players in the market are adopting strategies such as partnerships and investments to enhance their product offerings and gain sustainable competitive advantage.
- November 2023 - Reboxed announced that it secured GBP 1.6 million (USD 2.03 million) in seed funding led by ACF Investors. Reboxed offers a commerce platform connecting customers and businesses with a better and more sustainable way to buy and sell technology. It provides premium refurbished and pre-owned devices, including phones, tablets, laptops, and smartwatches, through a "like new" experience that focuses on quality, consistency, and a genuinely circular approach. The company will use the funds to drive growth and further develop its retail partner programs and Reboxed for business service.
- September 2023 - Back Market launched 'Let Them Buy New' - a provocative new international campaign that calls 'BS' on Big Tech's obsession with creating a need for new products. The campaign parodies Big Tech's marketing ploys to challenge the accepted norm of buying new tech every time, to question a consumer bias for new, and to show that refurbished devices are a high quality, more affordable, and more eco-friendly choice.
Used and refurbished Smartphone Market Leaders
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Samsung Electronics Co., Ltd.
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Apple Inc.
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Amazon.com, Inc.
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Verizon Communications, Inc.
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AT&T Inc.
*Disclaimer: Major Players sorted in no particular order
Used and Refurbished Smartphone Market News
- December 2023 - Smartphone refurbishing startup ControlZ aims to invest nearly USD 2 million in its Gurugram repair facility again in 2024. The company aims to repair 1 lakh units at the facility in 2024 and scale it to 5 lakh units by 2025.
- September 2023 - Expon Capital’s portfolio company, REFURBED, which achieved 1 billion in GMV since its founding in June 2023, announced a USD 57 million (EUR investment led by existing investors with significant participation from All Iron and several new backers). With this Series C investment, the company will continue to drive its mission to become the leading platform for sustainable products and services to empower consumers to purchase refurbished technology in a more accessible, risk-free, and sustainable manner.
Used & Refurbished Smartphone Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Consumers
4.3.3 Threat of New Entrants
4.3.4 Intensity of Competitive Rivalry
4.3.5 Threat of Substitutes
4.4 Assessment of COVID-19 Impact on the Industry
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Trend Toward Premium Phones (Rise in Upgrade Costs)
5.1.2 Growing Popularity of E-commerce Platforms for Used and Refurbished Smartphones
5.1.3 Telecom Operators Focusing on Used Phones with Attractive Plans
5.2 Market Challenges
5.2.1 Short-term Impact of Decreasing Smartphone Sales
5.2.2 Impact of E-commerce on Smartphone Sales
6. ANALYST COMMENTARY ON MARKET TRENDS AND OUTLOOK FOR NEW VS USED AND REFURBISHED SMARTPHONES
7. LANDSCAPE OF DISTRIBUTION CHANNEL - OEMs VS THIRD-PARTY VENDORS/PLATFORMS
8. IMPACT OF 5G ON USED AND REFURBISHED SMARTPHONES
9. MARKET SEGMENTATION
9.1 By Geography
9.1.1 North America
9.1.2 Europe
9.1.3 Asia-Pacific
9.1.4 Rest of the World
10. COMPETITIVE LANDSCAPE
10.1 Company Profiles*
10.1.1 Samsung Electronics Co. Ltd
10.1.2 Apple Inc.
10.1.3 Amazon.com Inc.
10.1.4 Verizon Communications Inc.
10.1.5 AT&T Inc.
10.1.6 Reboxed Limited
10.1.7 Nippon Telephone Inc.
10.1.8 Best Buy Co. Inc.
10.1.9 Alibaba Group Holding Limited
10.1.10 Paytm (One97 Communications Limited)
10.1.11 Back Market
10.1.12 FoneGiant
10.1.13 Flipkart Internet Private Limited (Walmart Inc.)
11. INVESTMENT ANALYSIS
12. FUTURE OF THE MARKET
Used and Refurbished Smartphone Industry Segmentation
A refurbished phone generally refers to a pre-owned handset that has been returned due to a fault and repaired for resale. Refurbished smartphones are a cost-effective solution for customers looking to save money while purchasing a smartphone.
The scope of the study covers both officially used and refurbished smartphone markets, where trade-in for upgrades in the mature market is also considered as part of the study. OEMs use it to push the adoption of premium devices by making upfront costs affordable, whereas telcos are using it to offer bundled services.
The used and refurbished smartphone market is segmented by geography (North America, Europe, Asia-Pacific, and the Rest of the World). The report offers market sizes in volume (shipment units) for all the above segments.
| By Geography | |
| North America | |
| Europe | |
| Asia-Pacific | |
| Rest of the World |
Used & Refurbished Smartphone Market Research FAQs
How big is the Used And Refurbished Smartphone Market?
The Used And Refurbished Smartphone Market size is expected to reach 349.40 million units in 2024 and grow at a CAGR of 7.61% to reach 504.10 million units by 2029.
What is the current Used And Refurbished Smartphone Market size?
In 2024, the Used And Refurbished Smartphone Market size is expected to reach 349.40 million units.
Who are the key players in Used And Refurbished Smartphone Market?
Samsung Electronics Co., Ltd., Apple Inc., Amazon.com, Inc., Verizon Communications, Inc. and AT&T Inc. are the major companies operating in the Used And Refurbished Smartphone Market.
Which is the fastest growing region in Used And Refurbished Smartphone Market?
North America is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Used And Refurbished Smartphone Market?
In 2024, the Asia Pacific accounts for the largest market share in Used And Refurbished Smartphone Market.
What years does this Used And Refurbished Smartphone Market cover, and what was the market size in 2023?
In 2023, the Used And Refurbished Smartphone Market size was estimated at 322.81 million units. The report covers the Used And Refurbished Smartphone Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Used And Refurbished Smartphone Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What are the latest trends in the Used and Refurbished Smartphone Market?
The latest Trends in the Refurbished Smartphone Market are: a) The growing availability of late-model smartphones b) Increased adoption of buyback and trade-in programs, and c) Expansion of online platforms offering refurbished devices
Refurbished and Used Smart Phones Industry Report
The global refurbished and used mobile phones market is on a significant upswing, fueled by the rising demand for affordable smartphones, the growing acceptance of e-commerce for device purchases, and an increased environmental consciousness among consumers aiming to reduce e-waste. With refurbished phones becoming popular for their reliability and affordability, the mid-priced segment is set to capture a substantial market share, thanks to favorable EMI options. Key markets like North America and Europe are witnessing robust growth, propelled by technological advancements and the expansion of 5G. The competitive landscape is vibrant, with industry players diversifying their offerings and forging strategic partnerships to meet consumer demand. Digital enhancements in battery life, camera quality, and connectivity are shaping consumer preferences. Additionally, government initiatives to encourage the adoption of refurbished and used phones are further boosting market growth, offering eco-friendly and cost-effective alternatives to new smartphones. For detailed insights and forecasts, access a free report PDF download from Mordor Intelligence™ Industry Reports.
Refurbished and Used Smart Phones Market Report Snapshots
