A Growing Segment in the Market for Mobility Devices: Refurbished Devices

A Growing Segment in the Market for Mobility Devices: Refurbished Devices

The consumers’ insatiable appetite for the most recent models of mobility devices turns out to be more of an urban myth. The reality, according to the most recent reports prepared by various statistics and market research companies, is that consumers turn increasingly towards refurbished mobility devices.

Thus, the most recent report released by Persistence Market Research reveals that between 2017 and 2025 the market segment for refurbished devices will register a CAGR of 8.9%. While in 2017 refurbished mobile phones and laptops sales reached almost $20 billion worldwide, in 2025 this value will be double – $40 billion.

In parallel, a study prepared by Deloitte indicated that at least 10% of the premium devices launched in 2016 will have three different owners by 2020.

Refurbished Does Not Mean Second-Hand

Let us start with a clarification: this expanding market is not the one for second-hand mobile phones and laptops sales. Refurbished mobility devices are professionally restored devices categorized from premium A+ class to A and B class. For example, the Renewd brand for which Phonetastic GSM is sole authorized distributor for Romania, Bulgaria and the Republic of Moldova, offers A+ class professionally refurbished premium devices. They have similar performances and exterior aspect to those of brand new products.

Developed Markets – the Most Active Consumers of Premium Refurbished Products

Who is behind the increasing demand for refurbished mobility devices? The largest market demanding these products is also the strongest economy in the world – the United States of America.

According to the forecasts of the Persistence Market Research report, the USA alone will generate a market growth for the refurbished premium mobile phones and laptops segment of 7.5% by 2025. This top of growing markets for the refurbished devices segment also includes developed economies such as Canada and Japan.

What Motivates Consumers to Opt for Refurbished Mobility Devices? 

  1. Affordable Price

A refurbished mobility device offers similar performances to those of a new product, but has a price up to 30% lower. This is the reason given by 96% of the respondents to a poll created by the company Liquidity Services.

  1. Extended Warranty

A refurbished product has a similar warranty period to that offered for a brand new product. 86% of the participants in the Liquidity Services poll stated that this benefit is the reason why they prefer refurbished mobility devices.

  1. A Responsible Choice for the Environment

By putting a refurbished device back on the market, less electronic wastes are generated. At the same time, the consumption of natural resources needed to manufacture new devices is also reduced. According to the Environmental Protection Agency, the volume of electronic wastes has increased by 120% in the last ten years and only 25% of them were recycled. Moreover, reusing a refurbished electronic device is 25 times more eco-friendly than recycling.

  1. Economic Advantages

Reusing refurbished mobility devices has a positive impact on the economy. According to several market researches, a ton of reused devices will generate 115 times more jobs than recycling them and generates 15 times more revenues.

  1. New Models Do Not Have Innovative Features

Despite the producers’ efforts to create increasingly performing flagship models, they do not have many new and interesting features compared to previous models. According to the director of the market research company Counterpoint, Tom Kang “The slowdown in innovation has made two-year-old flagship smartphones comparable in design and features with the most recent mid-range phones.”

Thus, consumers will opt for a premium refurbished device to the detriment of brand new mid-range device, given that the price is also more affordable.

The Phonetastic GSM team is aware that this trend, which is growing at a steady rhythm at global level, is only in its early stage in Romania. This is the reason why we chose to be the promoters of this trend, becoming sole authorized distributors for the Renewd brand of premium refurbished mobility devices.

RENEWD refurbished mobile phones and laptops are repaired using 100% OEM parts in top level laboratories and undergo rigorous performance tests. Thus, many mobility devices which were used for a short period of time regain their brand new aspect and the high performances they had at the moment of leaving the assembly line.

Join us in promoting sustainability by using refurbished mobile phones and laptops. Ask for the offer and become a reseller for the Renewd brand!