According to a Counterpoint Research report, the global market for refurbished smartphones declined by 1 per cent year-on-year (YoY) in 2019, reaching just over 137 million units. On the contrary, the refurbished smartphone market in India had grown by 9 per cent YoY in 2019.
In addition to India, other markets like Latin America and Africa also witnessed growth in the refurbished smartphones market.
The report also highlighted that there is an ongoing transition of the refurbished segment from the unorganised sector to an organised one in countries like India, which is opening opportunities.
In terms of market leadership, Apple and Samsung continued to dominate the secondary market in 2019.
Meanwhile, Huawei’s strength in new sales and is continued efforts in brand building has helped the company increase its presence within the refurbished market.