Second-hand smartphone market sees major growth in 2021: Counterpoint Research
The worldwide secondary (second-hand) smartphone market noticed 15 per cent year-on-year (YoY) development in 2021 at the same time as new smartphone shipments grew 4.5 per cent, based on Counterpoint Analysis’s International Refurb Smartphone Tracker. The analysis agency largely attributed this development to the excessive costs of flagship telephones pushing clients in the direction of shopping for refurbished fashions of standard manufacturers like Apple and Samsung.
Apple maintained its lead within the secondary smartphone market at the same time as Samsung made positive aspects. Buyer consciousness about refurbished units, licensed pre-owned alternate options, high quality checks within the secondary markets and guarantee choices additionally elevated throughout the 12 months, contributing to this development.
“Refurbished smartphones are part of total pre-owned units which re-enter the system by means of varied routes. Commerce-ins are the fastest-growing supply for such pre-owned smartphones, the quantity of which grew greater than 10% globally in 2021. We’re seeing a year-on-year improve in volumes amongst refurb gamers in creating markets like China, India, Latin America, Southeast Asia and Africa,” Glen Cardoza, senior analyst at Counterpoint Analysis mentioned in a press assertion.
The Latin American and Indian markets lead with the best development charges at 29 per cent and 25 per cent respectively. Even the American, Chinese language and European markets displayed robust development in quantity from 2020. The Indian and Latin American markets even have the best potential for development over the subsequent few years.
Demand was curtailed in 2020 because of provide shortages arising from Covid-19 lockdowns and different provide chain disruptions however the brand new figures present that the market roared again to life in 2021.
Flagship telephones, particularly the newest ones, had the best point-of-sale costs in India and Latin America, with the secondary market providing clients the chance to buy one-to-three-year-old flagships at Common Promoting Value (ASP) 40 to 70 per cent decrease than new variations.