The global refurbished smartphone market is presently dominated by Apple and Samsung with 70 percent, Counterpoint’s Refurbished Smartphone Tracker has revealed.
The finding attributes this domination to the fact that many within the refurbished ecosystem cater only to Apple and Samsung’s customers because their residual value is so much greater than the remaining field.
Huawei is growing in popularity, especially in South East Asia in terms of refurbished smartphone.
Other key findings indicate that new business models and more marketplace, companies are entering the ecosystem. There will be numerous more online and offline business models, which will make it easier for consumers to find appropriate refurbished devices and sellers to find buyers.
Recognized tier one distributors and service centers continue to become more vertically integrated with greater scale. More government ‘green’ policies are being enforced. This includes right-to-repair laws and more leniency importing and exporting of used devices.
The higher percentage of the refurbished devices are sold with warranties. This greatly helps overcome the consumer hesitancy to purchase refurbished devices