Europe Refurbished and Used Mobile Phones Market

Europe Refurbished and Used Mobile Phones Market Outlook (2023 to 2033)

The Europe Refurbished and Used Mobile Phones Market reached a valuation of US$ 16.67 billion in 2022 and is estimated to increase to US$ 44.42 billion by the end of 2033, expanding at a noteworthy CAGR of 9.4% through 2033.

Refurbished cell phones refer to gadgets that were previously utilized but have undergone repairs, replacements, and assessments to restore them to a state similar to when they were brand new. These phones could have had some components fixed or replaced, and have undergone cleaning and testing to ensure their proper functionality. Manufacturers or certified refurbishing firms typically sell refurbished phones that come with a limited warranty.

As the cost of new mobile phones continues to increase, consumers are increasingly turning to refurbished and used mobile phones as a more affordable alternative. This trend is especially prominent in Europe, where the high cost of living and the increasing prevalence of budget-conscious consumers have created a strong demand for refurbished and used mobile phones.

Refurbished phones can indeed be reliable as they undergo a rigorous restoration process to meet specific quality standards and operate like brand-new phones.

• Europe held 25% share of the global refurbished and used mobile phones market in 2022.
• In 2021, Best Buy announced that it would be expanding its selection of certified pre-owned and refurbished products, including iPhones, iPads, and other mobile devices.

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Why is Demand for Refurbished and Used Smartphones Rising Rapidly in Europe?

“Shorter Upgrade Cycles of Smartphones Contributing to High Sales of Refurbished Cellphones”

The shorter upgrade cycle of smartphones is fueling the demand for refurbished and used mobile phones in Europe. Smartphone manufacturers are releasing new models at an increasingly rapid pace, with new features and technology that entice consumers to upgrade their devices more frequently. This results in a larger supply of used and refurbished phones on the market, as consumers trade in their old devices for newer models.

The high cost of new smartphones is making it difficult for some consumers to upgrade to the latest models every year. This has led to a growing trend of consumers purchasing used or refurbished phones instead of buying new ones. By buying a refurbished or used phone, consumers can save money while still getting a device that meets their needs.

The shorter upgrade cycle of smartphones increases the supply of used and refurbished phones and drives the growth of the secondary market for parts and components. As smartphone manufacturers continue to release new models at a rapid pace, the market is expected to continue to grow.

Consumers are increasingly looking for cost-effective devices to save money on their technology purchases. Refurbished and used mobile devices offer an attractive solution for those looking for a more cost-effective alternative to buying new devices. Growing environmental awareness and acceptance of refurbished and used devices have helped boost the demand for these devices.

The rise of online marketplaces such as eBay, Amazon, and other e-commerce sites has made it easier for buyers to find and purchase refurbished and used mobile devices. This has helped expand the second-hand market and drive demand for these devices. Businesses are increasingly turning to these devices as a cost-effective and reliable way to meet their technology needs.

• In August 2022, Apple launched a new program that offered certified refurbished iPhones to customers in Europe. This was part of Apple's effort to promote sustainable practices and reduce electronic waste.
• In September 2020, Samsung announced a new program that offered certified pre-owned and refurbished phones in Europe. The program provided customers with access to Samsung's latest devices at a lower cost and helped reduce electronic waste.

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Country-wise Insights

Why is the United Kingdom a Lucrative Market for Providers of Refurbished and Used Mobile Phones?

"Wide Availability of Low-cost Refurbished Smartphones from Top Brands"

The United Kingdom accounts for a leading share of the Europe refurbished and used mobile phones due to several factors. The country has a long history of innovation in the mobile phone industry, with many of the world’s leading mobile phone manufacturers having their headquarters in the United Kingdom. This has meant that the country has a wide range of second-hand and refurbished mobile phones available from these top brands, as well as from other smaller brands.

The United Kingdom has a large and vibrant second-hand mobile phones market, with many online retailers as well as physical stores, selling these devices. The country also has a highly competitive market for these devices, with prices being kept low due to the large number of retailers vying for customers. This allows the United Kingdom to hold a 25.7% share of the refurbished and used mobile phones market in 2023.

What are the Potential Opportunities for Providers of Refurbished and Used Mobile Phones in Germany?

“High Demand for Affordable Smartphones with Advanced Features and Rising Adoption of e-Commerce for Purchases”

Germany is a rapidly growing market with a great deal of potential. With the growing demand for affordable mobile devices and the rising cost of new devices, more people are turning to used phones to get the latest technology at a fraction of the cost. This has led to an increase in the number of companies operating in this space, offering a variety of options for customers to choose from.

The growth of e-commerce has made it easier for customers to find the perfect device for their needs. Due to these reasons, sales of refurbished and used smartphones in Germany are estimated to increase at a CAGR of 9.88% through 2033.

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Category-wise Insights

Why is Demand for Refurbished Phones Growing So Fast?

“Affordability Aspect of Refurbished Phones Compared to Brand-new Counterparts”

Refurbished phones account for a market share of 55.8% in 2023 because they offer great value for money. Refurbished phones are usually phones that have been returned to the manufacturer for some reason or another, such as a defect or an upgrade. The manufacturer then repairs the phone and puts it back on the market.

Refurbished phones are typically much cheaper than their brand-new counterparts and can offer great value for money, especially for those on a budget. Some refurbished phones may even come with warranties or other benefits that would not be available with a brand-new phone.

Will Mid-priced Brands Continue to Rule the European Market for Used Phones?

“High Value for Money Allowing Mid-priced Phones Keep Their Lead”

Demand for phones from mid-priced brands is estimated to grow at a significant rate over the forecast period due to a variety of factors. Mid-priced brands offer good value for money, meaning that consumers are more likely to purchase them. This is especially true in times of economic uncertainty, as consumers are more likely to look for value-for-money items.

Mid-priced brands are typically more accessible than luxury brands, making them more appealing to a wider range of consumers.

Mid-priced brands are often more innovative than luxury brands, offering consumers more choices and more modern products. For these reasons, demand for refurbished and used phones from mid-priced brands is estimated to increase at a CAGR of 11% during the forecast period.

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Competitive Landscape

The Europe refurbished and used mobile phones market is highly competitive. Key players offer a range of refurbished and used phones, both online and in retail stores. There are several smaller companies as well offering refurbished and used phones. Both local and multinational companies offer a broad selection of refurbished and used mobile phones from various brands, frequently at competitive rates.

• In 2021, Amazon introduced a new “Renewed” program, allowing customers to purchase refurbished and used devices from the site at discounted prices. This move has helped Amazon solidify its position as a key player.
• In 2020, Apple launched a new trade-in program for iPhones, allowing customers to trade in their used iPhone for Apple Store credit. This move has enabled Apple to enhance its presence in the market.

Recent developments related to key players providing refurbished and used mobile phones in Europe have been tracked by analysts at Persistence Market Research, which will be accessible in the full report.

Europe Refurbished and Used Mobile Phones Industry Report Scope

Key Segments of Europe Refurbished and Used Mobile Phones Industry Research

By Product Type:

• Refurbished Phones
• Used Phones

By Pricing Range:

• Low-priced Brands (Less Than US$ 200)
• Mid-priced Brands (US$ 200 to US$ 500)
• Premium-priced Brands (More Than US$ 500)

By Sales Channel:

• Online/e-Commerce
• Physical Retail Stores
  • Organized Retailers
  • Unorganized Retailers

By Region:

• Western Europe
• Central & Eastern Europe