In 2022, there were over 282 million used smartphone units shipped globally, a market that includes both officially refurbished and used smartphones. By 2026, there will be over 413 million more shipments, resulting in a compound annual growth rate (CAGR) of 10.3 percent.
Refurbished smartphone market
As observed by the number of shipments, the refurbished smartphone market is also forecast to grow in the coming years in terms of revenue. Indeed, in 2021, the size of the refurbished smartphone market amounted to roughly 50 billion U.S. dollars and will reach almost 144 billion U.S. dollars by 2031. Latin America and India were the leaders of the refurbished smartphone market, registering a market growth of 29 and 25 percent between 2020 and 2021, respectively, while the United States ranked third, with a market growth of 15 percent.
Refurbished smartphones in the United States
Despite the refurbished smartphone market growth in the United States, American consumers tend to buy new phones instead of reconditioned ones. Of those who do decide to go down the refurbished phone route, buyers have tended to prefer iPhones rather than Android smartphones, with the iPhone XR and the iPhone 11 the most popular refurbished smartphones among consumers in the country.
Used and refurbished smartphone shipments worldwide in 2022 and 2026
(in millions of units)
Characteristic
Shipments in millions of units
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IDC. (January 9, 2023). Used and refurbished smartphone shipments worldwide in 2022 and 2026 (in millions of units) [Graph]. In Statista. Retrieved July 27, 2024, from https://www.statista.com/statistics/1208598/used-smartphone-shipments-worldwide/
IDC. "Used and refurbished smartphone shipments worldwide in 2022 and 2026 (in millions of units)." Chart. January 9, 2023. Statista. Accessed July 27, 2024. https://www.statista.com/statistics/1208598/used-smartphone-shipments-worldwide/
IDC. (2023). Used and refurbished smartphone shipments worldwide in 2022 and 2026 (in millions of units). Statista. Statista Inc.. Accessed: July 27, 2024. https://www.statista.com/statistics/1208598/used-smartphone-shipments-worldwide/
IDC. "Used and Refurbished Smartphone Shipments Worldwide in 2022 and 2026 (in Millions of Units)." Statista, Statista Inc., 9 Jan 2023, https://www.statista.com/statistics/1208598/used-smartphone-shipments-worldwide/
IDC, Used and refurbished smartphone shipments worldwide in 2022 and 2026 (in millions of units) Statista, https://www.statista.com/statistics/1208598/used-smartphone-shipments-worldwide/ (last visited July 27, 2024)
Used and refurbished smartphone shipments worldwide in 2022 and 2026 (in millions of units) [Graph], IDC, January 9, 2023. [Online]. Available: https://www.statista.com/statistics/1208598/used-smartphone-shipments-worldwide/