Refurbished and Used Mobile Phones Market Reaching Nearly USD 146.43 Billion By 2030

According to Custom Market Insights (CMI), The Global Refurbished and Used Mobile Phones Market size was estimated at USD 52.34 billion in 2021 and is expected to hit around USD 146.43 billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 11.45% from 2022 to 2030. 

A used smartphone that has been returned to the manufacturer is refurbished. After testing and inspecting the devices’ internal and external states, the business remanufactures them into new-looking gadgets.

Once a smartphone has some damage, it gets discarded and dumped in landfills. However, if it is repaired and sold, it will have had an opportunity to live. Any smartphone with even a few dings or scrapes on it should never be discarded since it is extremely harmful to the environment. Many smartphone components are made of plastic, and we all know how difficult it is to harm lithium-ion batteries. Therefore, it would be preferable to sell these as refurbished phones that could be offered at a lower cost while still being in excellent shape.

Beginning with attracting internet commerce, facilitating correspondence, and completing the growth of digitalization, cell phones have become an essential component of people’s life. Modern buyers who are well-informed gravitate toward high-quality, advanced mechanical hardware. Due to the brief upgrade cycle, many buyers are unwilling to commit much time to their new devices.   

Browse the full “Refurbished and Used Mobile Phones Market Size, Trends and Insights By Type (Refurbished phones, Used phones), By Pricing Range (Low-priced, Mid-priced, Premium), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032” report at https://www.custommarketinsights.com/report/refurbished-used-mobile-phones/