More and more cash-strapped people are opting to buy second hand and refurbished handsets in these tougher economic times with sales of used and refurbished devices estimated to have passed 282 million in 2022.
Anthony Scarsella, research manager with IDC’s Worldwide Quarterly Phone Tracker, said the used market grew off the back of a 6.1 percent rebound in sales of new phones in 2021. "Attractive price points are critical for growth as cost savings remain the primary benefit," Scarsella added."However, a high-end inventory struggle due to elongated refresh cycles in the new market has used prices growing 11 percent in 2022."
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