Latin America Refurbished and Used Mobile Phones Market Size, Trends and Insights By Type (Refurbished phones, Used phones), By Price point (Low-priced, Mid-priced, Premium), and By Region - Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030


Report Code: CMI20721

Published Date: November 2022

Pages: 220+

Category: Latin America

Report Snapshot

CAGR: 12.77%
3.04 B
2021
4.3 B
2022
8.79 B
2030

Source: CMI

Study Period: 2022-2030
Fastest Growing Market: Asia-Pacific
Largest Market: Europe

Major Players

  • Apple Inc.
  • Amazon
  • Samsung
  • Verizon Communications, Inc.
  • Cashify
  • Walmart
  • Others

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Reports Description

According to Custom Market Insights (CMI), Latin America Refurbished and Used Mobile Phones Market size was estimated at USD 3.04 Billion in 2021 and is expected to reach USD 4.3 billion in 2022 and is expected to hit around USD 8.79 Billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 12.77% from 2022 to 2030.

Latin America Refurbished and Used Mobile Phones Market (By Type )

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Our recently published report, “Latin America 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. 

Latin America Refurbished and Used Mobile Phones Market: Overview

A refurbished phone is a secondhand phone sold by an individual to a network, 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. Because of the availability 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 the latest mobile phones 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.

Used phones are cell 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 consumer’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 counterparts on the market, enabling middle-class customers to pick in excellent condition and inexpensive used phones.

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

The lack of raw materials like semiconductors in Latin America 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 Latin America’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 Latin American market due to 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 Latin America refurbished and used mobile phones market.

Latin America Refurbished and Used Mobile Phones Market (Price point)

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Latin America Refurbished and Used Mobile Phones Market: Growth Drivers

Introduction of technology

The advent of new technologies in the electronics and communication field provides a chance for mobile companies to introduce new mobile phone models in the market. The features, specifications, and software of mobile phones are designed to improve performance and provide a unique experience to the consumer. The availability of such mobile phones in the market entices the consumer’s interest and encourages them to go for the new product. 

The increasing introduction of new mobiles in the market and the growth rate of purchases of new phones by consumers are affecting the sales of refurbished and used mobile phones. The new phones are also restraining growth, and the increasing awareness of new phones discourages consumers from going for refurbished ones.

Increasing sustainability

Environmental degradation is one of the biggest threats that the earth is facing. The increasing rate of environmental degradation is causing an adverse effect that is giving rise to the adoption of eco-friendly products in the Latin American market. Latin America produces 145,000 tons of waste every year, and the harmful chemical in the plastic contaminates the water, leading to several human diseases. Therefore, sustainability is one of the most important goals for humanity to maintain, and it would help reduce environmental damage. 

The refurbishment of mobile phones is the best way to reduce the amount of electronic waste in the environment, and it encourages price-sensitive consumers to purchase mobile. In addition, the availability of refurbished products in the Latin American market is helping to increase awareness and sales by promoting their product detail in the market.

Latin America Refurbished and Used Mobile Phones Market: Segmentation Analysis

The refurbished and used mobile phones market is segmented based on type, price point, and region. First, based on type, it is segmented into refurbished and used phones. Based on the price point, it is low-priced, mid-priced, and premium. Finally, region-wise, it is analyzed across Latin America (Brazil, Argentina, and the rest of Latin America).

According to refurbished and used mobile phones market analysis, based on type, the refurbished segment gained a significant share in the Latin American 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 the Latin American 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.

Based on country, Brazil dominated the refurbished and used mobile phones market in 2021 and is expected to remain dominant during the refurbished and used mobile phones market forecast period. The market’s supremacy is primarily attributed to customers’ extensive product knowledge and the region’s growing interest in high-performance smartphones. In addition, Latin America is distinguished by developing countries, a growing interest in technology, and a strong demand for high-quality intelligent gadgets. These factors increase the population’s need for refurbished and used mobile phones.

In addition, the growing awareness about the benefits of using refurbished phones in the population of Brazil, Argentina, and developing countries is helping to increase the demand for gadgets. The benefits are that refurbished phones help to reduce electronic waste, encourage sustainability, and offer better products at economical pricing.

Latin America Refurbished and Used Mobile Phones Market (trends by region)

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Furthermore, expanding e-commerce platforms and increased investment in the refurbishing industry drive market development. In addition, the advent of 5G services throughout the area is increasing smartphone sales, and it is projected that with further expansion, the market need for new smartphones will offer an equivalent growth potential for refurbished and used phones. 

Report Scope

Feature of the Report Details
Market Size in 2021 USD 3.04 Billion
Projected Market Size in 2030 USD 8.79 Billion
Market Size in 2022 USD 4.3 billion
CAGR Growth Rate 12.77% CAGR
Base Year 2021
Forecast Period 2022-2030
Prominent Players Apple Inc., Amazon, Samsung, Verizon Communications, Inc., Cashify, Walmart, eBay, Paytm, Huawei , Yaantra, AT&T Inc., and Others
Key Segment By Type, Price point, and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope Latin America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

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.
  • Based on geography/country, Brazil was the leading revenue generator in 2021.

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.

Regional Landscape

Throughout the projection period, the Latin America region will likely remain one of the most appealing regions, accounting for the bulk of market revenue. Brazil 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 a more excellent investment in the refurbishment sector.

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 Latin America refurbished and used mobile phones market is segmented as follows:

By Type

  • Refurbished phones
  • Used phones

By Price point

  • Low-priced
  • Mid-priced
  • Premium

By Region/Geography

  • Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market research methodology
  • Chapter 2. Executive Summary
    • 2.1 Latin America Refurbished and Used Mobile Phones Market, (2022 – 2030) (USD Billion)
    • 2.2 Latin America Refurbished and Used Mobile Phones Market : snapshot
  • Chapter 3. Latin America Refurbished and Used Mobile Phones Market – Industry Analysis
    • 3.1 Latin America Refurbished and Used Mobile Phones Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 E-commerce websites
      • 3.2.2 Popularity of refurbished phones
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market attractiveness analysis By Type
      • 3.7.2 Market attractiveness analysis By Price point
  • Chapter 4. Latin America Refurbished and Used Mobile Phones Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Latin America Refurbished and Used Mobile Phones Market: company market share, 2021
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Latin America Refurbished and Used Mobile Phones Market – Type Analysis
    • 5.1 Latin America Refurbished and Used Mobile Phones Market overview: By Type
      • 5.1.1 Latin America Refurbished and Used Mobile Phones Market share, By Type, 2021 and 2030
    • 5.2 Refurbished phones
      • 5.2.1 Latin America Refurbished and Used Mobile Phones Market by Refurbished phones, 2022 – 2030 (USD Billion)
    • 5.3 Used phones
      • 5.3.1 Latin America Refurbished and Used Mobile Phones Market by Used phones, 2022 – 2030 (USD Billion)
  • Chapter 6. Latin America Refurbished and Used Mobile Phones Market – Price point Analysis
    • 6.1 Latin America Refurbished and Used Mobile Phones Market overview: By Price point
      • 6.1.1 Latin America Refurbished and Used Mobile Phones Market share, By Price point, 2021 and 2030
    • 6.2 Low-priced
      • 6.2.1 Latin America Refurbished and Used Mobile Phones Market by Low-priced, 2022 – 2030 (USD Billion)
    • 6.3 Mid-priced
      • 6.3.1 Latin America Refurbished and Used Mobile Phones Market by Mid-priced, 2022 – 2030 (USD Billion)
    • 6.4 Premium
      • 6.4.1 Latin America Refurbished and Used Mobile Phones Market by Premium, 2022 – 2030 (USD Billion)
  • Chapter 7. Latin America Refurbished and Used Mobile Phones Market – Regional Analysis
    • 7.1 Latin America Refurbished and Used Mobile Phones Market Regional Overview
    • 7.2 Latin America Refurbished and Used Mobile Phones Market Share, by Region, 2021 & 2030 (USD Billion)
    • 7.3. Latin America
      • 7.3.1 Latin America Refurbished and Used Mobile Phones Market, 2022 – 2030 (USD Billion)
        • 7.3.1.1 Latin America Refurbished and Used Mobile Phones Market, by Country, 2022 – 2030 (USD Billion)
    • 7.4 Latin America Refurbished and Used Mobile Phones Market, by Type, 2022 – 2030
      • 7.4.1 Latin America Refurbished and Used Mobile Phones Market, by Type, 2022 – 2030 (USD Billion)
    • 7.5 Latin America Refurbished and Used Mobile Phones Market, by Price point, 2022 – 2030
      • 7.5.1 Latin America Refurbished and Used Mobile Phones Market, by Price point, 2022 – 2030 (USD Billion)
  • Chapter 8. Company Profiles
    • 8.1 Apple Inc.
      • 8.1.1 Overview
      • 8.1.2 Financials
      • 8.1.3 Product Portfolio
      • 8.1.4 Business Strategy
      • 8.1.5 Recent Developments
    • 8.2 Amazon
      • 8.2.1 Overview
      • 8.2.2 Financials
      • 8.2.3 Product Portfolio
      • 8.2.4 Business Strategy
      • 8.2.5 Recent Developments
    • 8.3 Samsung
      • 8.3.1 Overview
      • 8.3.2 Financials
      • 8.3.3 Product Portfolio
      • 8.3.4 Business Strategy
      • 8.3.5 Recent Developments
    • 8.4 Verizon Communications Inc.
      • 8.4.1 Overview
      • 8.4.2 Financials
      • 8.4.3 Product Portfolio
      • 8.4.4 Business Strategy
      • 8.4.5 Recent Developments
    • 8.5 Cashify
      • 8.5.1 Overview
      • 8.5.2 Financials
      • 8.5.3 Product Portfolio
      • 8.5.4 Business Strategy
      • 8.5.5 Recent Developments
    • 8.6 Walmart
      • 8.6.1 Overview
      • 8.6.2 Financials
      • 8.6.3 Product Portfolio
      • 8.6.4 Business Strategy
      • 8.6.5 Recent Developments
    • 8.7 eBay
      • 8.7.1 Overview
      • 8.7.2 Financials
      • 8.7.3 Product Portfolio
      • 8.7.4 Business Strategy
      • 8.7.5 Recent Developments
    • 8.8 Paytm
      • 8.8.1 Overview
      • 8.8.2 Financials
      • 8.8.3 Product Portfolio
      • 8.8.4 Business Strategy
      • 8.8.5 Recent Developments
    • 8.9 Huawei
      • 8.9.1 Overview
      • 8.9.2 Financials
      • 8.9.3 Product Portfolio
      • 8.9.4 Business Strategy
      • 8.9.5 Recent Developments
    • 8.10 Yaantra
      • 8.10.1 Overview
      • 8.10.2 Financials
      • 8.10.3 Product Portfolio
      • 8.10.4 Business Strategy
      • 8.10.5 Recent Developments
    • 8.11 AT&T Inc.
      • 8.11.1 Overview
      • 8.11.2 Financials
      • 8.11.3 Product Portfolio
      • 8.11.4 Business Strategy
      • 8.11.5 Recent Developments

List Of Figures

  • 1. Market research Type
  • 2. Market research methodology
  • 3. Latin America Refurbished and Used Mobile Phones Market, 2022 – 2030 (USD Billion)
  • 4. Porter’s Five Forces Analysis
  • 5. Latin America Refurbished and Used Mobile Phones Market attractiveness, By Type
  • 6. Latin America Refurbished and Used Mobile Phones Market attractiveness, By Price point
  • 7. Latin America Refurbished and Used Mobile Phones Market share by Type, 2022 and 2030 (USD Billion)
  • 8. Latin America Refurbished and Used Mobile Phones Market by Refurbished phones, 2022 – 2030 (USD Billion)
  • 9. Latin America Refurbished and Used Mobile Phones Market by Used phones, 2022 – 2030 (USD Billion)
  • 10. Latin America Refurbished and Used Mobile Phones Market share by Price point, 2022 and 2030 (USD Billion)
  • 11. Latin America Refurbished and Used Mobile Phones Market by Low-priced, 2022 – 2030 (USD Billion)
  • 12. Latin America Refurbished and Used Mobile Phones Market by Mid-priced, 2022 – 2030 (USD Billion)
  • 13. Latin America Refurbished and Used Mobile Phones Market by Premium, 2022 – 2030 (USD Billion)
  • 14. Latin America Refurbished and Used Mobile Phones Market share, by Region, 2022 and 2030
  • 15. Latin America Refurbished and Used Mobile Phones Market, 2022 – 2030 (USD Billion)

List Of Tables

  • 1. Latin America Refurbished and Used Mobile Phones Market: Snapshot
  • 2. Drivers of the Latin America Refurbished and Used Mobile Phones Market: impact analysis
  • 3. Latin America Refurbished and Used Mobile Phones Market revenue, By Type, 2022 – 2030 (USD Billion)
  • 4. Latin America Refurbished and Used Mobile Phones Market revenue, By Price point, 2022 – 2030 (USD Billion)

 

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2030

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2030
  • Market revenue estimates and forecasts up to 2030, by technology
  • Market revenue estimates and forecasts up to 2030, by application
  • Market revenue estimates and forecasts up to 2030, by type
  • Market revenue estimates and forecasts up to 2030, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Prominent Players:

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

FAQs

“Brazil” will lead the Latin America Refurbished and Used Mobile Phones market during the forecast period 2022 to 2030.

The key factors driving the market are Increasing sustainability and introducing of technology.

The key players operating in the Latin America Refurbished and Used Mobile Phones market are Apple, Samsung, Huawei, Amazon, and others.

The Latin America Refurbished and Used Mobile Phones market is expanding growth with a CAGR of approximately 12.77% during the forecast period (2022 to 2030).

The Latin America Refurbished and Used Mobile Phones market size was valued at USD 3.04 Billion in 2021 and it is projected to reach around USD 8.79 Billion by 2030.

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