Asia Pacific Refurbished and Used Mobile Phones Market 2024–2033

Reports Description

According to Custom Market Insights (CMI), Asia Refurbished and Used Mobile Phones Market size was estimated at USD 27.53 Billion in 2021 and is expected to reach USD 50.56 Billion in 2022 and is expected to hit around USD 78.09 Billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 12.53% from 2022 to 2030.

Our recently published report, “Asia-Pacific Refurbished and Used Mobile Phones Market”, offers a comprehensive and deep evaluation of the market stature. Also, the market report estimates the market size, revenue, price, market share, market forecast, growth rate, and competitive analysis. 

Asia-Pacific Refurbished and Used Mobile Phones Market: Overview

A refurbished phone is a used phone sold to a network, manufacturer, or retailer by an individual. The phones are then examined, fixed, and certified to satisfy specified requirements. The mended phones are also for sale at a discounted price. The availability of new smartphone technology has increased the overall cost of smartphones. As a result, buyers in developing nations are cautious about spending large sums on the latest mobile phones and prefer to use used models. A year or two-year-old restored model would provide about the same usefulness, and the technology is up to the current standard.

Used phones are cell phones that have been used by users and then sold to other customers via re-commerce platforms on the market. Used phones are rarely the consumer’s first option when purchasing a phone because they need to examine its operating condition and functions. As a result, the popularity of refurbished phones has grown because they already have all of the inspections, and the user does not have to spend extra time ensuring the quality. In addition, used phones are less expensive than new counterparts on the market, encouraging middle-class users to choose used phones that are in good condition and affordable.

E-commerce is becoming a popular medium for purchase in Asia, owing to the easy availability of mobile phones and the benefits they provide, such as information about the product and the facility of home delivery to customers. In addition, e-commerce channels have become a critical source of revenue for multiple companies, owing to their key factors of increasing consumer reach. Furthermore, an increase in e-commerce sales, improvements in logistics services, and ease in payment options boost the market’s growth.

Asia Refurbished and Used Mobile Phones Market: COVID – 19 Impact Analysis

The lack of raw materials like semiconductors in Asia during the pandemic, owing to the closure of international borders, to contain the spread of the COVID-19 virus had negatively impacted the supply chains. It hampered the export and import of essential raw materials and smartphones globally. This created a new opportunity for vendors in Asia with refurbished and used mobile phones. The increased demand for second-hand phones during the pandemic is expected to have a long-term impact on the Asia market, owing to the changes in consumer buying and consumption behaviour.

Therefore, the COVID-19 pandemic had a slightly negative impact on the market’s revenues. However, it boosted the demand for refurbished and used phones across the globe and positively impacted the market by creating a tremendous growth opportunity for the vendors operating in Asia’s refurbished and used mobile phones market.

Asia Refurbished and Used Mobile Phones Market: Growth Drivers

The popularity of refurbished smartphones

The number of smartphones integrated with cutting-edge technology has risen in Asia over the last five years. The proliferation of new smartphone technologies has increased the total cost of smartphones. As a result, clients in developing countries are hesitant to spend huge sums on new phones and prefer to purchase refurbished and used phones. A year or two-year-old reconditioned and used mobile device would supply them with roughly the same utility, and the technology is up to date.

Furthermore, the rising supply-demand mismatch in the Asia market for newly released devices gives a platform for selling refurbished and used mobile phones. Consumers are willing to accept refurbished and used models launched in the last one or two years because they offer the same experience as new gadgets. The increased popularity and acceptance of refurbished and used mobile phones are expected to fuel market growth over the projected period.

Growth of e-commerce websites

E-commerce is virtual stores where goods & services do not require physical space and are sold through websites. Easy accessibility and heavy discounts & offers provided by these online platforms boost the sales of refurbished and used mobile phones. In addition, presently, online shopping has become a macro trend, owing to the high internet penetration rate. Furthermore, online sales have witnessed significant growth in the Asia region during the last few years. In addition, the availability of information about mobile phones and their date of refurbishment, specification, and facility of home delivery by e-commerce contributes to the growth of the e-commerce segment for refurbished and used mobile phones.

E-commerce is becoming a popular medium for purchase, owing to the easy availability of mobile phones and the benefits they provide, such as information about the product and home delivery facility to customers. In addition, e-commerce channels in the Asia region have become a critical source of revenue for multiple companies, owing to their key factors of increasing consumer reach. Furthermore, an increase in e-commerce sales, improvements in logistics services, and ease in payment options boost the market’s growth.

Asia Refurbished and Used Mobile Phones Market: Segmentation Analysis

The refurbished and used mobile phones market is segmented based on type, price point, and region. Based on type, it is segmented into refurbished phones and used phones. Based on the price point, it is low-priced, mid-priced, and premium. Region-wise, it is analyzed across Asia-Pacific (China, Japan, India, South Korea, South East Asia, and the rest of Asia-Pacific).

According to refurbished and used mobile phones market analysis, based on type, the refurbished segment gained a significant share in the Asia-Pacific market in 2021 and is expected to sustain its market share during the forecast period as the availability of refurbished smartphones is higher compared to used mobile phones and the population is highly interested in getting a hands-on experience of the new devices. In addition, introducing or launching new devices in the region has encouraged consumers to shift to the use of new phones, creating a surplus volume of used phones in the market. Furthermore, growth in the popularity and feasibility of high-performing phones propels sales of refurbished and used mobile phones among the population across the region.

According to refurbished and used mobile phone market trends, based on price point, the mid-priced segment gained a significant share in the Asia-pacific market in 2021 and is expected to sustain its market share during the forecast period. A consistent increase in disposable income and growing interest in high-performing quality phones is increasing the support for the sales of mid-priced refurbished and used mobile phones during the forecast period. In addition, the increasing launch of new models of smartphones is affecting the price of the old models as it becomes more affordable for the population to purchase.

Based on country, China dominated the refurbished and used mobile phones market in 2021 and is expected to remain dominant during the refurbished and used mobile phones market forecast period. The market’s supremacy is primarily attributed to customers’ extensive product knowledge and the region’s growing interest in high-performance smartphones. In addition, Asia-Pacific is distinguished by the developing countries, a growing interest in technology, and a strong demand for high-quality intelligent gadgets. These factors increase the population’s need for refurbished and used mobile phones. In addition, the growing awareness about the benefits of using refurbished phones in the population of Asia-Pacific is helping to increase the demand for gadgets. The benefits are that refurbished phones help to reduce electronic waste, encourage sustainability, and offer better products at economical pricing. 

Report Scope

Key Insights: 

• Based on type segmentation, the refurbished phones segment is estimated to hold the largest market share during the forecast period.
• Based on price point, the mid-priced segment is the leading revenue-generating category during the forecast period.
• Based on geography/country, China was the leading revenue generator in 2021.

Recent Development

• In September 2022, Apple, Inc. introduced all the models of refurbished iPhone 12 to be kept up for sale. Previously Apple was involved in selling iPhone 11 and its predecessor models.

Regional Landscape

Throughout the projection period, the Asia-Pacific area will likely remain one of the most appealing regions, accounting for the bulk of market revenue. China stands out for its high level of disposable money, increased interest in technology, and high demand for high-quality intelligent gadgets. These reasons contribute to a greater need for refurbished and used mobile phones. Furthermore, market development is driven by the rise of e-commerce platforms and more significant investment in the refurbishment sector. The introduction of 5G services throughout the region is growing smartphone sales, and it is expected that as the market for new smartphones expands further, the need for refurbished and used phones will offer equivalent development potential.

Competitive Landscape

Our report offers quantitative and qualitative insights into the refurbished and used mobile phones market and significant development initiatives adopted by the key players. Further, it provides competitive details and market share analysis. The report further includes relevant financial information, products and services offered, SWOT analysis, and the players’ recent developments.

Prominent Players:

• Apple Inc.
• Amazon
• Samsung
• Verizon Communications Inc.
• Cashify
• Walmart
• eBay
• Paytm
• Huawei
• Yaantra
• AT&T Inc.

The Asia refurbished and used mobile phones market is segmented as follows:

By Type Analysis

• Refurbished Phones
• Used Phones

By Pricing Range Analysis

• Low-priced Refurbished and Used Mobile Phones (Less than $200)
• Mid-Priced Refurbished and Used Mobile Phones ($200-$500)
• Premium Refurbished and Used Mobile Phones (More than $500)

By Sales Channel Analysis

• Online/ e-Commerce Sales of Refurbished and Used Mobile Phones
• Refurbished and Used Mobile Phones Sold at Physical Retail Stores

By Application Analysis

• Individual
• Businesses

By Region/Geography

• Asia-Pacific
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia-Pacific