The market for refurbished and used mobile phones is expanding at a CAGR of
The market for Market for refurbished and used mobile phones is expected to grow from $49.9 billion to $143.8 billion by 2031, at a CAGR of 10.2% over that period. Refurbished and used cell phone sales are currently almost 11% Share of the global smartphone market.
In the modern world, owning a mobile phone is not only a necessity but also a status symbol. A top-of-the-line smartphone can easily cost $1,000 or more, so it’s no wonder many people buy refurbished and used phones instead. Refurbished phones are those that have been repaired and restored to like-new condition; They may have been used before, but they have been tested and certified to work properly. Used phones are simply those that have already been sold to a customer and are now being resold by retailers.
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Mobile phones have become an important part of our lives, from supporting correspondence to engaging online business to boosting the growth of digitization. The rapid growth of online content is driving the growth of the global refurbished and used mobile phone market.
In addition, the increasing dependence of customers on electronic devices in non-developed countries is driving demand for refurbished and used mobile phones. Alongside this, the growing demand for low-priced items, increasing adoption of smartphones and growing economies are expected to drive the global growth of the refurbished and used cellphone market.
The market for refurbished and used cell phones is growing rapidly as more and more people see the benefits of buying these types of phones. Refurbished phones are cheaper than new ones, so they are popular with budget buyers. They’re also popular with people who want a quality phone without having to pay a maximum amount for it. And since refurbished phones come with a…