The global smartphone market rebounded in 2024 after two slow years, with shipments forecasted to rise by over 6%. However, a new report predicts that the burgeoning refurbished and used smartphone market may challenge this recovery, offering both environmental and economic benefits. Refurbished smartphones are gaining traction in regions like China, Southeast Asia, and Africa. In 2023, the average selling price of refurbished phones in these areas surpassed the global average for new devices, according to Counterpoint Research. Once plagued by concerns over overheating, battery issues, and data security, refurbished devices have matured into a trusted option for consumers.
From shady deals to certified quality
Once limited to unregulated transactions, refurbished smartphones now enjoy legitimacy through certified programs by tech giants like Apple and Samsung. Online Asian marketplaces such as Singapore’s Reebelo and Malaysia’s Mudah.my offer high-quality, reconditioned and used phones. These manufacturer-certified devices are rigorously tested, come with warranties, and assure data security, making them an attractive alternative for budget-conscious buyers.
Environmental and economic benefits
Opting for a refurbished smartphone significantly reduces the environmental impact. A French study revealed that buying reconditioned phones cuts the carbon footprint by up to 91% compared to new ones. With smartphones contributing 10% of global electronic waste, this shift can prevent old devices from ending up in landfills. And many Asian governments are also promoting sustainable practices. India’s Right To Repair portal, launched after a 2022 survey highlighted the high cost of repairs, empowers consumers to extend the life of their gadgets.
Aspiration meets affordability in Asia-Pacific
The Asia-Pacific region is set to lead the refurbished smartphone market in the coming decade, driven by young middle-class consumers and their aspiration for high-end gadgets at affordable prices. Refurbished high-end models allow these consumers to enjoy premium technology without straining their budgets.
Wider industry implications
This trend is reshaping the smartphone industry. Companies are leveraging the refurbished market to expand their customer base and potentially convert users to their new products in the future. Beyond smartphones, this growth is transforming the Asia-Pacific into a “mobile-first” market, fostering innovation in tech start-ups and improving customer experiences through mobile-focused services. The rise of refurbished and used smartphones is not just a win for consumers and brands but also a positive step for environmental sustainability, promising long-term benefits for the industry and beyond. As demand for used phones increases, their prices will rise accordingly. This is a fundamental economic principle that clearly applies to the global secondary market as well.
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