Used and Refurbished Phone market on the up – Part 1

Why Refurbished Phones Are Taking Over – And Why You Should Care!

Move over, brand-new smartphones – your time in the spotlight is fading! After years of shiny new releases and sky-high prices, the premium smartphone market has hit a plateau. Now, it’s the refurbished phone market that’s stepping up and shaking things up in a major way.

The Rise of Refurbished Phones 🚀📱

With the refurbished mobile phone market booming, it’s expected to see a jaw-dropping 30% annual growth by 2020, especially in the US (the biggest market). In 2015, 15 million refurbished units were sold. By 2020? That number is set to skyrocket to 55 million! Why the sudden switch? Well, let’s be honest: new phones are expensive. Not everyone is ready to shell out £700+ for the latest iPhone or Samsung, and why should they? You could get a Samsung Galaxy S8 in pristine condition for less than half the price of a new Galaxy S9. With savings like that, the decision becomes pretty obvious!

Old vs New – What’s the Big Difference? 🤔

Let’s face it – the “new” features on the latest smartphones aren’t exactly earth-shattering. Wireless charging? Samsung’s had that for years, but suddenly it’s a big selling point for Apple’s iPhone X. The innovation race is slowing down, and consumers are starting to see through the marketing hype. Do you really need that innovative notch on your screen? Or a super-fast chipset when all you do is scroll through social media and play Candy Crush? Probably not.

The One Thing Holding Refurbished Phones Back 🔧

Here’s the thing – the grading system for refurbished phones can get confusing. A “Grade C” on one site might mean a phone with scratches but no functional issues. On another site, it could mean a phone with a cracked screen. The lack of grading unity in the refurbished market is a bit of a stumbling block, but it’s something that needs to be fixed.

The Solution: Clearer Grading ✏️

The refurbished phone industry needs to create a consistent, user-friendly grading system that addresses the important stuff. Does the cosmetic damage impact the phone’s performance? Does the battery hold a charge? Was the data wiped securely? These are the real questions we need answers to. Once we nail down the specifics, it’ll be even easier for consumers to confidently snap up their next refurbished bargain.