Global Refurbished Smartphone Market Trends and Forecasts

TapTechNews September 13th news, the market research organization CounterpointResearch released a blog post yesterday (September 12th), reporting that the global refurbished smartphone market continues to develop towards high-end, and in many developed markets, it has almost reached the level of high-end phones.

In the latest 'Global Second-hand Smartphone Market Report' released by this organization, it is pointed out that the price of refurbished smartphones in 2023 increased by 6%, which is one quarter higher than the average selling price of newly launched smartphones in 2023.

According to market segmentation, it has almost reached the level of high-end phones in many developed markets; emerging markets occupy most of the global demand, and the growth rate of their average selling price (ASP) is almost three times that of developed markets. TapTechNews attaches the relevant chart as follows:

The organization said that the emergence of a more structured market and supply restrictions are also driving up prices in large markets such as China, Southeast Asia, and Africa.

The organization estimates the price of refurbished phones in emerging markets will exceed the average price of new phones globally for the first time in 2024.