Apple and Samsung were numbers 1 and 2 in revenue of refurbished smartphone sales in 2021.
are among the smartphone manufacturers that will be happy to sell you a refurbished model. Last year happened to be a strong one for the refurbished market hands with sales in that area of the industry rising 15% compared to a puny 4.5% hike in new phone sales during 2021. Ironically, consumers increasing their demands for 5G phones helped the sales of refurbished models increase last year.
That's because many customers wanted to upgrade to a 5G phone and some had to resort to using a trade-in deal to make such a transaction financially feasable. By accepting these deals, the carriers ended up increasing their inventory of phones that they could recycle as refurbished.
Counterpoint's data shows that Latin America had the biggest year-over-year increase in refurbished sales with a 29% hike last year. The country with the second-largest smartphone market, India, was second with a 25% hike year-over-year. China also has the largest market for refurbished phones but its year-over-year rise in such revenue last year was only 10%. The U.S.,had the third largest gain in annual improvement with a 15% increase.
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