Refurbished Smartphones and Used Smart Phones Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Used and Refurbished Smartphone Industry Overview

The competitive rivalry amongst the used and refurbished smartphone providers is very high, owing to the presence of various smartphone brands across the globe. Some major players in the market are Samsung Electronics Co. Ltd, Apple Inc., Amazon.com Inc., Verizon Communications Inc., and AT&T Inc. The demand for refurbished smartphones has spiked in recent years due to the massive smartphone penetration across developing countries. Players in the market are adopting strategies such as partnerships and investments to enhance their product offerings and gain sustainable competitive advantage.

• November 2023 - Reboxed announced that it secured GBP 1.6 million (USD 2.03 million) in seed funding led by ACF Investors. Reboxed offers a commerce platform connecting customers and businesses with a better and more sustainable way to buy and sell technology. It provides premium refurbished and pre-owned devices, including phones, tablets, laptops, and smartwatches, through a "like new" experience that focuses on quality, consistency, and a genuinely circular approach. The company will use the funds to drive growth and further develop its retail partner programs and Reboxed for business service.
• September 2023 - Back Market launched 'Let Them Buy New' - a provocative new international campaign that calls 'BS' on Big Tech's obsession with creating a need for new products. The campaign parodies Big Tech's marketing ploys to challenge the accepted norm of buying new tech every time, to question a consumer bias for new, and to show that refurbished devices are a high quality, more affordable, and more eco-friendly choice.