The global “refurbished” smartphone market saw a 1% decrease in 2019 compared to the previous year, with just over 137 million units, according to a report from CounterPoint Research, as the market witnessed a rise in the fourth quarter of the ride on Apple’s upgrades.
According to the Indian TOI website, according to Jeff Feldhack, director of research at Counterpoint Research, this is the first time that the globally renewed smartphone market has been dropping for the whole of 2019, and he says it has happened due to the market slump in some key areas like the United States, China and Europe And also because of trade tensions between China and the United States.
Sales in these three major markets saw a combined decline of about 6% year-on-year in 2019. Among these, China, which happens to be the largest market for refurbished devices, experienced a 4% decrease last year, and Japan experienced a maximum decrease of 8% %, Followed by the United States with 5%.
Apple and Samsung have emerged as the best players in the secondary market in 2019, and despite the general decline, there are some markets such as India, Latin America and Africa, showed some growth, and in India, the market grew by 9%, in Latin America by 6%, and in Africa At 2%.
According to Varun Mishra, a research analyst at Counterpoint Research, the renewed market is still in its infancy in the three regions mentioned above and in terms of smartphones, these markets are still not controlled, and according to him, in India, the transition is taking place from the renewed part of the informal sector To the formal sector, which helps create more opportunities.