Global sales of used and refurbished smartphones are going up

·1-min read
Consumers are increasingly interested in refurbished smartphones.

The secondhand smartphone market, comprising refurbished devices, represented over 225 million units in 2020, according to IDC figures. The phenomenon is set to gain momentum in the coming years, and could even exceed 350 million units per year by 2024.

The total of 225.4 million used smartphones sold worldwide in 2020 represents a 9.2% increase compared to 2019. IDC expects this trend to accelerate, growing over 10% per year to reach 351.6 million used units sold in 2024.

Manufacturers and telecom operators alike, are increasingly encouraging consumers to recycle their smartphones rather than keep them unused in their drawers. Opting for refurbished models is better for the environment, is a simple way to extend the life of a product and allows you to save money, since refurbished models are obviously cheaper than new ones.

At the same time, the market for new smartphones is expected to decline by between 5 and 10% in 2020.