The Coronavirus (COVID-19) pandemic has caused the global smartphone market to decline below 300 million in Q1 2020. As a result, we have also lowered our overall smartphone shipment estimates for the year 2020. The global market for refurbished smartphones also saw a 1% decline in 2019. Given the current economic conditions and global downturn, the user buying pattern is expected to change. But it does bring new opportunities for the refurbished smartphone market.
Despite a decline, Apple and Samsung continued to dominate the secondary market in 2019. But how does the refurb ecosystem work? Which are the key refurb smartphone markets? Once the smartphone enters the refurb ecosystem, a fair amount of work goes into making it sellable. So, what are the typical repairs that are carried out?
Host Peter Richardson and research analyst Varun Mishra discuss the key trends and opportunities in the global refurbished smartphone market in the latest episode of “The Counterpoint Podcast.” The discussion also touches upon the replacement cycles and the refurb market in India.