China Refurbished and Used Mobile Phones Market 2024–2033

Reports Description

According to Custom Market Insights (CMI), China Refurbished and Used Mobile Phones Market size was estimated at USD 19.04 Billion in 2021 and is expected to reach USD 33.2 Billion in 2022 and is expected to hit around USD 52.60 Billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 12.20% from 2022 to 2030.

Our recently published report, “China Refurbished and Used Mobile Phones Market”, offers a comprehensive and deep evaluation of the market stature. Also, the market report estimates the market size, revenue, price, market share, market forecast, growth rate, and competitive analysis.

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China Refurbished and Used Mobile Phones Market Overview

Used phones are mobile phones that have been used by consumers and then sold to other customers through market re-commerce platforms. Because customers must inspect the phone's functioning condition and functionality, used phones are rarely the customer's first choice when acquiring a phone. As a result, refurbished phones have increased in popularity since they already have all of the inspections, and the customer does not have to spend extra time guaranteeing the quality. In addition, used phones are less expensive than new versions on the market, enabling middle-class customers to pick in excellent condition and inexpensive used phones.

A refurbished phone is a secondhand phone sold by an individual to a carrier, manufacturer, or retailer. The phones are tested, repaired, and certified to verify that they meet the specifications. The fixed phones are also for sale at a reduced price. Due to the proliferation of new smartphone technologies, the total cost of smartphones has risen. As a result, shoppers in developing countries are hesitant to spend huge sums on new cellular telephones and instead go for secondhand devices. A year or two-year-old refurbished model would give roughly the same utility, and the technology is up to date.

China Refurbished and Used Mobile Phones Market: COVID–19 Impact Analysis

The lack of raw materials like semiconductors in China during the pandemic, owing to the closure of international borders, to contain the spread of the COVID-19 virus had negatively impacted the supply chains. It hampered the export and import of essential raw materials and smartphones globally. This created a new opportunity for the vendors operating in China's refurbished and used mobile phones market. The increased demand for second-hand phones during the pandemic is expected to have a long-term impact on the China market owing to the changes in consumer buying and consumption behavior.

Therefore, the COVID-19 pandemic had a slightly negative impact on the market's revenues. However, it boosted the demand for refurbished and used phones across the globe and positively impacted the market by creating a tremendous growth opportunity for the vendors operating in China's refurbished and used mobile phones market.

China Refurbished and Used Mobile Phones Market: Growth Drivers

Popularity of eCommerce

E-commerce refers to online shops selling products and services without needing physical premises. These online platforms' easy accessibility, hefty discounts, and offers to stimulate the sales of refurbished and used mobile phones. Furthermore, online buying has become a macro trend due to the increasing internet penetration rate. Moreover, internet sales in the Asia-Pacific area have increased significantly in recent years. Furthermore, the accessibility of data about mobile phones, including their date of refurbishment, specifications, and home delivery capability via e-commerce, helps the expansion of the e-commerce industry for refurbished and used mobile phones.

E-commerce is becoming a popular medium for purchase because of the widespread availability of mobile phones and the benefits they give, such as product information and the option of home delivery to clients. Furthermore, due to their fundamental aspects of growing customer reach, e-commerce platforms in the Asia-Pacific area have become the primary source of revenue for several organizations. In addition, increased e-commerce sales, advancements in logistical services, and the simplicity of payment alternatives contribute to the market's growth.

The popularity of refurbished smartphones

The number of smartphones integrated with cutting-edge technology has risen in China over the last five years. The proliferation of new smartphone technologies has increased the total cost of smartphones. As a result, clients in developing countries are hesitant to spend huge sums on new phones and prefer to purchase refurbished and used phones. A year or two-year-old reconditioned and used mobile device would supply them with roughly the same utility, and the technology is up to date.

Furthermore, the rising supply-demand mismatch in China’s market for newly released devices gives a platform for selling refurbished and used mobile phones. Consumers are willing to accept refurbished and used models launched in the last one or two years because they offer the same experience as new gadgets. The increased popularity and acceptance of refurbished and used mobile phones are expected to fuel market growth over the projected period.

China Refurbished and Used Mobile Phones Market Segmentation Analysis

The refurbished and used mobile phones market is segmented based on type, price point, and region. Based on type, it is segmented into refurbished phones and used phones. Based on the price point, it is low-priced, mid-priced, and premium.

According to refurbished and used mobile phones market analysis, based on type, the refurbished segment gained a significant share in China’s market in 2021 and is expected to sustain its market share during the forecast period as the availability of refurbished smartphones is higher compared to used mobile phones and the population is highly interested in getting a hands-on experience of the new devices. In addition, introducing or launching new devices in the region has encouraged consumers to shift to the use of new phones, creating a surplus volume of used phones in the market. Furthermore, growth in the popularity and feasibility of high-performing phones propels sales of refurbished and used mobile phones among the population across the region.

According to refurbished and used mobile phone market trends, based on price point, the mid-priced segment gained a significant share in China’s market in 2021 and is expected to sustain its market share during the forecast period. A consistent increase in disposable income and growing interest in high-performing quality phones is increasing the support for the sales of mid-priced refurbished and used mobile phones during the forecast period. In addition, the increasing launch of new models of smartphones is affecting the price of the old models as it becomes more affordable for the population to purchase.

Report Scope

Key Insights:

• Based on type segmentation, the refurbished phones segment is estimated to hold the largest market share during the forecast period.
• Based on price point, the mid-priced segment is the leading revenue-generating category during the forecast period.

Recent Development

• In September 2022, Apple, Inc. introduced all the models of refurbished iPhone 12 to be kept up for sale. Previously Apple was involved in selling iPhone 11 and its predecessor models.

Country Landscape

Throughout the projection period, China will likely remain one of the most appealing regions, accounting for the bulk of market revenue. China stands out for its high level of disposable money, increased interest in technology, and high demand for high-quality intelligent gadgets. These reasons contribute to a greater need for refurbished and used mobile phones. Furthermore, market development is driven by the rise of e-commerce platforms and more significant investment in the refurbishment sector. Moreover, the introduction of 5G services throughout the region is growing smartphone sales, and it is expected that as the market for new smartphones expands further, the need for refurbished and used phones will offer equivalent development potential.

Competitive Landscape

Our report offers quantitative and qualitative insights into the refurbished and used mobile phones market and significant development initiatives adopted by the key players. Further, it provides competitive details and market share analysis. The report further includes relevant financial information, products and services offered, SWOT analysis, and the players' recent developments.

Prominent Players:

• Apple Inc.
• Amazon
• Samsung
• Verizon Communications, Inc.
• Cashify
• Walmart
• eBay
• Paytm
• Huawei
• Yaantra
• AT&T Inc.

The China refurbished and used mobile phones market is segmented as follows:

By Type Analysis

• Refurbished Phones
• Used Phones

By Pricing Range Analysis

• Low-priced Refurbished and Used Mobile Phones (Less than $200)
• Mid-Priced Refurbished and Used Mobile Phones ($200-$500)
• Premium Refurbished and Used Mobile Phones (More than $500)

By Sales Channel Analysis

• Online/ e-Commerce Sales of Refurbished and Used Mobile Phones
• Refurbished and Used Mobile Phones Sold at Physical Retail Stores

By Application

• Individual
• Businesses

On the basis of the Country

• China