Global Refurbished and Used Mobile Phones Market size reached USD 57.45 Bn in 2022 and is expected t

In today’s world, a smartphone is a necessity more than any other luxury product but for billions of people worldwide, buying a new smartphone is too expensive. Refurbished and used mobile phones provides cost-effective alternatives for consumers’ growing needs. Refurbished phones are an environmentally friendly way to reduce e-waste and a cost-effective option for people who want a high-quality phone but don't want to pay full price for a brand-new device. According to the analysis of the International Data Corporation (IDC) report, worldwide shipments of Refurbished and used mobile phones reached 282.6 million units in 2022.

The amount reflects an 11.5% increase over the 253.4 million units shipped in 2021. The growth of the Refurbished and used mobile phones Market is driven by the high cost of flagship smartphones, which pushed customers towards buying refurbished models of popular brands like Apple and Samsung. Furthermore, the growing popularity of e-commerce platforms is expected to drive the demand for the Market during the forecast period.