Market figures for refurbished and used mobile phones

The global reconditioned and used mobile phone market, as reported by Custom Market Insights, was valued at around $52 billion in 2021. This market is expected to grow to an estimated size of $146 billion by 2030.

A refurbished phone often refers to a previously used phone that has been returned for various reasons and then repaired for resale. Consumers who want to save money on purchasing a smartphone often consider refurbished devices as an affordable alternative. Nowadays, refurbished mobile phones are gaining popularity, supported by reliable resellers. These smartphones may have some cosmetic imperfections such as dents and scratches, but function perfectly and usually come with a warranty from the reseller.

The consumption of used and refurbished mobile phones is expected to increase significantly in the coming years due to the increasing popularity of consumer electronics through various online and offline sales channels. This market is expanding due to the exponential growth of digital content.

Smartphones have become embedded in all aspects of human life, from facilitating communication to promoting e-commerce and accelerating digitalization. Modern, tech-savvy consumers prefer advanced and expensive technology. The reconditioned and used mobile phone market is growing rapidly due to various reasons, including the overall popularity of smartphones, rising incomes and increased environmental awareness. The presence of numerous resellers is also aiding the growth of this industry.

Factors that stimulate growth

Explosive growth of digital content

The global market for reconditioned and used mobile phones is expanding due to the unprecedented growth of digital content. Smartphones have proven to be essential tools, from communication to e-commerce, for the digitalization of various aspects of our lives.

Consumer demand for affordable goods

The growing number of consumers looking for budget-friendly alternatives is fueling the reconditioned and used mobile phone market. This option gives customers access to high-quality devices at affordable prices. With the growing dependence on electronic devices in emerging countries, the global reconditioned and used mobile phone market is expected to flourish.

Everyday use of smartphones

Smartphone usage is no longer limited to teenagers and college students; professionals and people of all ages rely on their devices to carry out work and daily responsibilities. Smartphones have played a crucial role in almost everyone’s life, which is driving the demand for smartphones and thus the reconditioned smartphone market.

Consumers' technological expectations

To meet the rising technological expectations of consumers, smartphone manufacturers in emerging economies continue to engage in research and development to produce high-quality mobile phones. This is expected to further expand the reconditioned and used mobile phone market. Moreover, rapid urbanization, expansion of brands with affordable price points, and growing demand for high-end features at competitive prices will also drive the market. Furthermore, initiatives and regulations related to green projects and e-waste management will continue to contribute to the demand in the global reconditioned and used mobile phone market.

Both consumers and organizations are looking for ways to save money when purchasing mobile phones. In this context, both individuals and businesses can benefit from cost savings by using reconditioned and used mobile devices. Manufacturers are helping customers find affordable pre-owned mobile phones. The emergence of 5G technology is expected to further boost the demand for reconditioned and used mobile phones and accessories in the future.

In the Asia Pacific and Middle East regions, companies offering alternative payment methods for phones and mobile phone accessories, such as “buy now, pay later”, are becoming more and more numerous. This approach is quickly becoming one of the most popular ways to pay for refurbished equipment online in these regions, with “buy now, pay later” start-ups partnering with digital wallet service providers to expand their market share.

Recent developments

Xiaomi has recently stepped up its domestic production of smartphones and smart TVs in India. The company has announced new partners including BYD and DBG Technology from China for the production of smartphones. Moreover, Xiaomi has appointed Radiant Technology in Hyderabad as its second manufacturing partner after Dixon for the domestic production of smart TVs.

This comprehensive report provides insight into the dynamics and developments in the reconditioned and used mobile phones market, enabling stakeholders to understand and respond to trends in this emerging sector.