A refurbished smartphone is a device that has been returned to the manufacturer, tested to assess its internal and external condition, and repaired to look, feel, and perform like new. A few days ago, Samsung added the Galaxy S21 5G, Galaxy S21+ 5G and Galaxy S21 Ultra 5G to its range of refurbished smartphones available on its online store.
Both Apple and Samsung are among the smartphone makers who will be happy to sell you a refurbished model..
Last year was a banner year for the refurbished device market, sales in this sector increased by 15%while sales of new phones only increased by 4.5% in 2021. Ironically, increased consumer demand for 5G smartphones helped boost sales of refurbished models last year .
Indeed, many customers wanted to upgrade to a 5G smartphone and some had to resort to a trade-in operation to make such a transaction financially feasible. By agreeing to these deals, carriers ended up increasing their stock of smartphones that they could recycle as refurbished models.
With a global shortage of chips and other components, Counterpoint says some global resellers known to sell new devices are increasingly offering refurbished smartphones so they don’t leak.
Apple followed by Samsung
Counterpoint data shows that Latin America saw the largest year-over-year increase in refurbished phone sales, with an increase of 29% last year. The country with the second largest smartphone market, India, comes in second with a 25% increase over the previous year. China also has the largest market for refurbished phones, but the year-over-year increase in such revenue was only 10%. The United States recorded the third strongest annual improvement with a 15% increase.
Apple was the most popular smartphone brand in the refurbished market, followed by Samsung. With Apple and Samsung seeing revenue rise for their flagship models, carriers are garnering more trade-ins to work with. According to Counterpoint, the aftermarket for refurbished devices gives consumers access to some of the most popular models at prices up to 60% off.