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Refurbished Smartphone Market Shifts Towards Premium, Emerging Markets Lead Price Growth

Mobile Internet 2024-09-13 14:07:15 Source:

Refurbished Smartphone Market Shifts Towards Premium, Emerging Markets Lead Price GrowthMarket research firm Counterpoint Research recently released a report indicating that the global refurbished smartphone market is experiencing a sustained shift towards premium devices, reaching near-premium levels in many developed markets. The report, titled "Global Refurbished Smartphone Market Report," reveals that the average selling price (ASP) of refurbished smartphones grew 6% year-over-year in 2023, exceeding the ASP of newly launched smartphones by a quarter

Refurbished Smartphone Market Shifts Towards Premium, Emerging Markets Lead Price Growth

 Refurbished Smartphone Market Shifts Towards Premium, Emerging Markets Lead Price Growth

Market research firm Counterpoint Research recently released a report indicating that the global refurbished smartphone market is experiencing a sustained shift towards premium devices, reaching near-premium levels in many developed markets. The report, titled "Global Refurbished Smartphone Market Report," reveals that the average selling price (ASP) of refurbished smartphones grew 6% year-over-year in 2023, exceeding the ASP of newly launched smartphones by a quarter.

The report's analysis highlights that refurbished phone prices in developed markets are nearing premium levels, while emerging markets account for the majority of global demand, witnessing an ASP growth rate nearly three times higher than developed markets. Counterpoint Research attributes this price surge in large markets like China, Southeast Asia, and Africa to the emergence of more structured markets and supply constraints. The firm predicts that refurbished phone prices in emerging markets will surpass the global average price of new phones for the first time in 2024.

Counterpoint Research's charts display the robust growth of the refurbished smartphone market in 2023, with Asia Pacific dominating the market share, followed by Europe and North America. The firm forecasts that the refurbished smartphone market will continue its strong growth trajectory in the coming years, with particularly rapid development expected in emerging markets.

Tag: Refurbished Smartphone Market Shifts Towards Premium Emerging Markets Lead


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