Apple is leading the race when it comes to refurbished smartphone sales in 2021. Within that year, there was been an increase of 15% in refurbished smartphone sales across the globe.
Samsung follows in second place after Apple.
Samsung Adds New Models to Its Refurbished Line of Handsets
According to the story by PhoneArena (as seen on NewsBreak), the definition of "refurbished smartphones" are devices that the user returns to the manufacturer for various reasons. This could be the inability to pay, defectiveness, or other reasons.
Once returned to the manufacturer, the device is then tested, repaired, and restored to its original quality. In addition, just a few days ago, Samsung's official online store released a "Re-Newed line" of refurbished handsets including the Samsung Galaxy S21 5G, Galaxy S21+ 5G, and the Galaxy S21 Ultra 5G to the collection.
Refurbished Smartphone Sales Saw 15% Growth in 2021
Apple and Samsung are known as two smartphone manufacturers that do not mind selling refurbished units to users, according to PhoneArena.
When it came to 2021, the refurbished market saw an increase of 15% growth compared to its previous 4.5% growth in 2020.
As per the publication, one major reason why refurbished models are seeing a massive increase in sales is due to the 5G demands growing and buying refurbished models are a great way to get a newer 5G compatible device with a discount.
Demand for 5G Pushed Increase in Refurbished Sales
PhoneArena notes that due to 5G becoming more and more popular, some phone users had to do trade-in deals in order to be able to afford a 5G-compatible device. Due to carriers accepting this deal, refurbished inventory has increased as well.
As per GSMArena, data from Counterpoint shows how there is an increase in refurbished phones offers. The data shows that Latin America had its largest year-over-year increase when it came to sales of refurbished units, achieving a 29% increase in 2021.
India Saw a 25% Year-Over-Year Growth in Refurbished Smartphone Sales in 2021
India, known as the country that has the second-largest smartphone market, achieved a 25% year-over-year growth in 2021. Another market that is also popular for the sale of refurbished smartphones is China, which achieved a 10% year-over-year growth in 2021.
The United States in general was able to see an increase of refurbished smartphone sales of 15% year-over-year in 2021.
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Up to 60% Price Drop on Refurbished Units vs. Brand New Ones
Both companies are trying to see more sales for their flagship models and this is another reason why they have decided to accept trade-ins in order to incentivize their existing customers to upgrade their models. Counterpoint stated that the secondary market allows buyers to purchase units at a massive discount.
Depending on the model and brand, refurbished smartphones can come at up to 60% off compared to the units' brand new price.
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This article is owned by Tech Times
Written by Urian B.
