Demand for used and refurbished gadgets is justified by a more affordable price. It is projected to increase in the future.
The world’s demand for new gadgets has fallen over the past year, at a time when smartphones have become more active at 18%, according to analysts at International Data Corporation (IDC).
Experts refer to used devices as users’ gadgets and officially restored (refurbished). Sales of used devices in 2019 amounted to 206.7 million units, which is 17.6% more than a year earlier. Until 2023, the market for used smartphones will reach 332.9 million units, showing an annual growth of 13.6%.
Analysts explain the demand for used smartphones by the possibility of significantly saving, compared to the purchase of a new device. Manufacturers are also experiencing problems with the release of new phones, balanced by price and capabilities.
The growth of the market of used smartphones will be facilitated by the deployment of 5G networks. Users who want to switch to it will get rid of their current 4G devices, making them more accessible.
Sales of new gadgets in 2019 showed a drop of 5%. Last year, vendors sold 1.8 billion smartphones, up from 1.89 billion in 2018. By 2023, the supply of new smartphones will decrease to 1.73 billion devices, and the market for such devices will decrease by 1.8% per year.
Recall, there was a ranking of the most durable smartphones for 2019. First place went to the smartphone Google Pixel 3a.