Demand for used smartphones has been noticed to increase from 2022 and is anticipated to continue by 2026.
According to IDC, a research firm, the amount of restored and second-hand smartphone shipments has increased worldwide by 11.5% to 282.6 million in 2022 from 253.4 million the year prior. Additionally, even phones that are two years old can have the most recent software installed on them, thanks to businesses like Google, Apple, and Samsung offering upgrades for their products over an extended period.
IDC projects that this increased pace will last until the year 2026, when shipments are estimated to reach 413.3 million, with a cumulative yearly development rate of 10.3%. Anthony Scarsella, the research manager for IDC, notes that the comeback of 6.1% is seen in the new market for 2021, allowing the used market to grow by 11.5% in 2022. He said that in many places, consumers’ need for smartphones is still high, therefore used devices show more resistance to market barriers than new smartphone selling. Furthermore, price points that are appealing are essential for development since cost reductions continue to be the key advantage. But, an increasing inventory problem brought on by prolonged refresh cycles in the new market has led to an increase in used costs of over 11% in 2022.
It is important to notice that in contrast to North America, second-hand cell phones account for a bigger market share throughout the rest of the globe. The shipments of used devices comprised 26% of all shipments in North America in 2022, however, 74% of all shipments worldwide. This is probably because used equipment is less expensive than brand-new ones. IDC further predicts that by 2026, deliveries of used mobiles would climb to 74.9% worldwide and decrease to 25.1% in North America.
Purchasing refurbished has environmental implications in addition to the apparent ones. Although buying used phones may not be done with the environment in mind, doing the same saves phones away from landfills over a long period. The phones are returned to the manufacturers and then their materials are occasionally reutilized, just like Apple and its dismantling machines do.
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According to IDC, a research firm, the amount of restored and second-hand smartphone shipments has increased worldwide by 11.5% to 282.6 million in 2022 from 253.4 million the year prior. Additionally, even phones that are two years old can have the most recent software installed on them, thanks to businesses like Google, Apple, and Samsung offering upgrades for their products over an extended period.
IDC projects that this increased pace will last until the year 2026, when shipments are estimated to reach 413.3 million, with a cumulative yearly development rate of 10.3%. Anthony Scarsella, the research manager for IDC, notes that the comeback of 6.1% is seen in the new market for 2021, allowing the used market to grow by 11.5% in 2022. He said that in many places, consumers’ need for smartphones is still high, therefore used devices show more resistance to market barriers than new smartphone selling. Furthermore, price points that are appealing are essential for development since cost reductions continue to be the key advantage. But, an increasing inventory problem brought on by prolonged refresh cycles in the new market has led to an increase in used costs of over 11% in 2022.
It is important to notice that in contrast to North America, second-hand cell phones account for a bigger market share throughout the rest of the globe. The shipments of used devices comprised 26% of all shipments in North America in 2022, however, 74% of all shipments worldwide. This is probably because used equipment is less expensive than brand-new ones. IDC further predicts that by 2026, deliveries of used mobiles would climb to 74.9% worldwide and decrease to 25.1% in North America.
Purchasing refurbished has environmental implications in addition to the apparent ones. Although buying used phones may not be done with the environment in mind, doing the same saves phones away from landfills over a long period. The phones are returned to the manufacturers and then their materials are occasionally reutilized, just like Apple and its dismantling machines do.
Read next: Global Economic Power Rankings: A Look at the Countries Dominating the World's Economy
