Demand for refurbished smartphones continues to grow and the future is promising

Deepak Gupta July 29, 2022
Updated 2022/07/29 at 3:39 PM

Refurbished smartphones are basically used devices with more or less use, fully tested and evaluated by experts, and put up for sale again with adjusted prices. Stores tend to offer guarantees on these products and the market is increasingly relying on these offers.

Confidence is increasing to such an extent that it is predicted that by 2027 there will be an increase in refurbished smartphones sales of 10.23% per year.

The future of refurbished smartphones

In 2021, sales of refurbished smartphones grew by 15% compared to the previous year. This demand essentially happened with top products from Samsung and Apple.

In addition, with the exception of Africa, according to Counterpoint data, all regions of the world showed an increase in demand above double digits, with Latin American countries (LATAM) with a 29% increase in sales.

For the future, the prospects are even more encouraging for the market. Statista recently presented a graph showing the evolution of sales of refurbished smartphones with a forecast for the next 5 years.

As described, an annual growth rate of around 10.23% is expected. Thus, 2021 closed with an estimated sales of refurbished smartphones of 251.09 million units, which means that in 2027 sales should be around 459.86 million units.

The advantages

Having a refurbished smartphone these days means much more than having a more affordable smartphone, because it is. A model in these conditions, depending on the classification (grade) given by the store, after a careful evaluation and repair of some necessary detail, is undoubtedly a cheaper option than a new model.

But more than that, having a refurbished one means having a more sustainable life from an environmental point of view. With these products we are minimizing waste and fighting the problem that exists today in the world of huge amounts of technological waste.

By the way, if your old smartphone is forgotten in a drawer at home, it can still be useful to someone. Open Box Mobile, for example, has a take-back program very interesting, which evaluates your smartphone for free and pays you a fair value for it, then proceeds to sell it as refurbished or simply giving it a dignified and environmentally friendly end.

THE Open Box Mobile It still sells refurbished smartphones from numerous brands, most notably Apple products, but it also has an offer of computers, tablets, peripherals, accessories and even products such as e-bikes. In addition, it also repairs all types of technological products.

With a growing supply of refurbished devices, you have to pay attention to the reputation of the stores, so that you don't buy a poorly rated product or that you don't have quality after-sales assistance afterwards. Looking at customer reviews is extremely relevant. And since we are talking about Open Box Mobile, which has been growing daily, this store has a rating of 4.9 stars out of 5 in the trustpilot.

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