Global refurbished smartphone market sees 1% decline in 2019: Report

7 months ago 53
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The global market for refurbished smartphones saw a decline of 1% YoY last year, with just over 137 million units, as per a report by CounterPoint Research. The market saw an uptick in Q4 riding on the

Apple

upgrades.
As per Jeff Fieldhack, Research Director at Counterpoint Research, this is the first time that the global refurbished

smartphone

market has declined for the entire 2019. He says that it has happened due to the slump in the market in some key areas like the US, China and Europe and also because of the trade tensions between China and the US. The sell-through in these three major markets saw a combined fall of about 6% YoY in 2019. Of these, China, which happens to be the largest market for refurbished devices, saw a decline of 4% last year. Japan saw a maximum decline with an 8% dip, followed by the US with 5%.
Apple and

Samsung

emerged as the top two players in the secondary market in 2019. Despite the overall decline, there were a few markets like India, Latin America, and Africa, showed some growth. In India, the market grew by 9%, in Latin America, by 6% and in Africa, by 2%.
As per Varun Mishra, Research Analyst at Counterpoint Research, the refurbished market is still in its infancy in the above mentioned three regions and in terms of smartphones, these markets remain unpenetrated. According to him, in India, a transition of the refurbished segment from the unorganised to the organised sector is taking place which is helping create more opportunities.

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