Global Refurbished and Used Mobile Phones Market Size study & Forecast, by Type ( Refurbished phone, Used Phone) by Price Range( Low Price (Below $200), Mid Price ($200 to $500), Premium (Above $500)), by Application( Individual, Business), and Regional A

Global Refurbished and Used Mobile Phones Market Size study & Forecast, by Type ( Refurbished phone, Used Phone) by Price Range( Low Price (Below $200), Mid Price ($200 to $500), Premium (Above $500)), by Application( Individual, Business), and Regional Analysis, 2022-2029

Global Refurbished and Used Mobile Phones Market is valued approximately USD 5.2 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 11.0% over the forecast period 2022-2029. Refurbished phones are used devices that have been returned and fixed so they can be sold once more. Refurbished phones are referred to as gadgets that users or customers often sent back during the 30-day cooling-off period after signing up for a contract, according to several networks and stores. The vendor frequently does testing, such as checking the battery's charge and evaluating the cameras' and buttons' performance. The market for refurbished and used mobile phones is growing as a result of factors like increased consumer dependence on smartphone devices globally and an increase in the number of businesses offering EMI alternatives for phones.

The market is witnessing a several players who are making strategic investments and acquisitions to tap into growing refurbished and used phones market. For instance, in January 2022, Flipkart Group announced the acquisition of Yaantra, an electronics recommence company, as part of efforts to strengthen its recommence business and it would enhance its recommence business after-sale offerings for its customers in the smartphones segment. Chip shortages and supply chain issues are also advancing the refurbishing industry. To address this demand, companies are turning to refurbished phone suppliers, which is anticipated to drive the refurbished and used phones market. Additionally, an increase in e-commerce platform adoption by both buyers and sellers is fostering industry expansion. However, scarcity of top models in the refurbished market and Limitation in warranty period of refurbished and used smartphone stifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Refurbished and Used Mobile Phones Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the increasing demand for smart phones, rising development of network infrastructure. Whereas Asia Pacific is expected to grow with a highest CAGR during the forecast period, owing to factors such as rising demand for smart phones.

Major market player included in this report are:
Amazon.com, Inc.
Apple Inc
AT&T Inc
Cashify
eBay
Huawei Technologies Co., Ltd
Paytm
Samsung Electronics Co Ltd
Verizon Communication Inc
Walmart

Recent Developments in the Market:
 In November 2021, in China, Huawei's official online store started offering certified reconditioned premium cellphones. As a result, potential users may simply purchase premium HUAWEI products at lower prices.
 In December 2022, Zest Money, a payment processor, offers a free EMI option for purchasing a used mobile phone in instalments. The popularity of reconditioned phones in place of the newest models with no-cost EMI alternatives is therefore fast increasing among consumers.

Global Refurbished and Used Mobile Phones Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Type, Price Range, Application, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Application offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:
Refurbished Phones
Used Phones

By Price Range:
Low Price (Below $200)
Mid Price ($200 to $500)
Premium (Above $500)

By Application:
Individual
Business

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World


Companies Mentioned
Amazon.com, Inc.
Apple Inc
AT&T Inc
Cashify
eBay
Huawei Technologies Co., Ltd
Paytm
Samsung Electronics Co Ltd
Verizon Communication Inc
Walmart

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