NEW DELHI: The global refurbished smartphone market<\/a> fell by 9% on-year in 2021, led by Latin America, Europe, and South-East Asia on account of COVID-19<\/a> lockdowns and related economic deterrents, according to the latest Counterpoint Refurbished Smartphone Market<\/a> Update.
Latin America (LATAM) witnessed a de-growth of -19%, followed by Europe (-14%), and South-East Asia (-10%) on-year. While in India, the refurbished smartphone market<\/a> declined by a marginal -3% on-year.
The pandemic caused a significant number of smartphone owners<\/a> to avoid or delay new purchases.
“New device sales fell by around 9% in 2020 due to COVID-19<\/a> lockdowns and related economic deterrents. This reduced the number of upgrades and smartphones hitting the secondary market<\/a>,” said Senior Research Analyst Glen Cardoza.
“Key secondary markets India and Latin America saw 20% and 24% declines respectively during the first half of 2020 due to strict and extended lockdowns,” Cardoza added.
The market saw a strong 16% decline in the first half of 2020 compared to the first half of 2019 but rebounded in the second half of 2020 helped by increase in device sales and a strong Apple iPhone launch cycle, leading to supply of devices<\/a> in the secondary market, according to the report.
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