During the crisis, people began to buy not new, but refurbished smartphones. This is proven by the new Counterpoint stats. According to them, in 2021 the new smartphone market grew by 4.5%, while the refurbished smartphone market exceeded all forecasts and grew by 15%! At the same time, growth was observed in all key markets, with 29% in Latin America.

Apple is the market leader in remanufactured smartphones, but Samsung is slowly catching up. However, the source unfortunately did not share details about the sales of these companies.

However, analysts note that there is a slight increase in the average selling price of refurbished smartphones.

One of the reasons for the growth of this market is the significant increase in the number of companies engaged in the repair and restoration of mobile devices. We should not forget that the laws of different countries force smartphone manufacturers to make their products more useful by putting pressure on them.